Signet Jewelers (NYSE:SIG) stock was shining bright on Thursday following the release of its earnings report for its fiscal second quarter of 2019.
Earnings per share reported by Signet Jewelers for its fiscal second quarter of 2019 came in at 52 cents. This is down from the company’s earnings per share of $1.33 reported in its fiscal second quarter of 2018. However, it was still good news for SIG stock by beating out Wall Street’s earnings per share estimate of 20 cents for the period.
Signet Jewelers’ earnings report for its fiscal second quarter of 2019 also includes a net loss of $23 million. This is a drop from the company’s net income of $85.20 million reported in the same period of the year prior.
During its fiscal second quarter of 2019, Signet Jewelers reported an operating loss of $58.10 million. The jewelry company reported operating income of $135.60 million for its fiscal second quarter of the previous year.
Signet Jewelers also reported revenue of $1.42 billion for its fiscal second quarter of 2019. This is an increase over the company’s revenue of $1.40 billion that was reported during the same time last year. It was also a boon to SIG stock by coming in above analysts’ revenue estimate of $1.34 billion for the quarter.
The most recent earnings report from Signet Jewelers also includes an update to its fiscal 2019 guidance. This includes upping its earnings per share and revenue guidance to between $4.05 and $4.40 and $6.2 billion to $6.3 billion, respectively. Wall Street is looking for earnings per share of $4.06 on revenue of $6.13 billion for the year.
SIG stock was up 28% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
