Why DSW Stock Is Skyrocketing Today

DSW beat EPS and revenue estimates for Q2

DSW stock was up on Tuesday after releasing its earnings report for the second quarter of 2018.

Why DSW Stock Is Skyrocketing Today
Source: Shutterstock

DSW (NYSE:DSW) reported earnings per share of 63 cents during the second quarter of the year. This is up from its earnings per share of 38 cents from the same time last year. It was also good news for DSW stock by coming in well above Wall Street’ earnings per share estimate of 46 cents for the period.

DSW also reported a net loss of $38.36 million for the second quarter of 2018. This is a drop from the retailer of footwear’s net income of $28.68 million that was reported in the second quarter of 2017.

During the second quarter of the year, DSW reported operating income of $24.27 million. This is down from the company’s operating income of $46.85 million that was reported in the same period of the year prior.

DSW’s earnings report for the second quarter of 2018 also includes revenue of $795.27 million. The company’s revenue from the second quarter of the previous year was $683.01 million. This was also a blessing to DSW stock by beating out analysts’ revenue estimate of $689.37 million for the quarter.

DSW also took time during its most recent earnings report to updates its outlook for the full year of 2018. The company says that it is now expecting earnings per share for the period to range from $1.60 to $1.75. It’s previous earnings per share outlook was between $1.52 to $1.67. Wall Street is estimating earnings per share of $1.61 for the year.

DSW stock was up 22% as of Tuesday morning and is up 24% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/why-dsw-stock-is-skyrocketing-today/.

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