The Express earnings report for the third quarter of the year was bad news for EXPR stock today.
Express (NYSE:EXPR) starts off its earnings report for the third quarter of the year with earnings per share of 11 cents. This is an increase over its earnings per hare of 8 cents from the same period of the year prior. It also beat out analysts’ revenue estimate of 10 cents for the quarter, but couldn’t save EXPR stock today.
Net income reported in the Express earnings report for the third quarter of 2018 came in at $7.97 million. This is better than the company’s net income of $6.03 million reported in the third quarter of 2017.
The most recent Express earnings report also saw the company bring in operating income of $10.20 million. The American fashion retailer reported operating income of $10.78 million for the same time last year.
During the Express earnings report for the third quarter of 2018, the company reported revenue of $514.96 million. This is up from its revenue of $503.42 million reported in the third quarter of the previous year. It was also above analysts’ revenue estimate of $505.46 million for the period, but was unable to keep EXPR stock from falling.
While all of this seems like good news for EXPR stock, the company’s outlook for the rest of the year is dragging the stock down. Express says that it is expecting earnings per share for the year to range from 25 cents to 33 cents. This is well below Wall Street’s earnings per share estimate of 45 cents for the year.
EXPR stock was down 9% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.