Conn’s stock was down on Tuesday despite releasing an strong earnings report for its fiscal second quarter of 2019.
During its fiscal second quarter of the year, Conn’s (NASDAQ:CONN) reported earnings per share of 57 cents. This is better than the company’s earnings per share of 26 cents from the same time last year. It also easily beat out Wall Street’s earnings per share estimate of 41 cents for the period.
Conn’s earnings report for its fiscal second quarter of 2019 also includes net income of $17.01 million. This is an increase over the company’s net income of $4.27 million reported in its fiscal second quarter of 2018.
Operating income reported by Conn’s for its fiscal second quarter of the year came in at $39.25 million. The furniture store chain’s operating income from the same period of the year prior came in at $29.19 million.
Conn’s also reported revenue of $384.62 million for its fiscal second quarter of 2019. This is up from its revenue of $366.65 million that was reported in its fiscal second quarter of the previous year. It also came in above analysts’ revenue estimate of $384.09 million for the quarter.
Despite this solid earnings report for its fiscal second quarter of the year, Conn’s stock is still down today. This likely has to do with concerns about upcoming trade deals. The U.S. has been working on a revising of NAFTA and the changes could strongly affect manufacturers. Talk of rough relations between the U.S. and Canada aren’t helping matters.
CONN stock was down 13% as of noon Tuesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.