Shoe Carnival Stock Skyrockets on Q3 Earnings, Revenue Beat

SCVL stock is soaring more than 14% after the bell

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2OLC14Y

Shoe Carnival stock (NASDAQ:SCVL) had a day to remember as it was skyrocketing late in the day following a weak start to the day, thanks in large part to the company unveiling its latest quarterly earnings results, which were better than what analysts were calling for by a considerable margin.

Shoe Carnival Stock
Source: Flickr

The Evansville, Indiana-based family footwear retailer said that for its third quarter of fiscal 2018, it brought in net income of $12 million, or 76 cents per share. The figure was much better than the 61 cents per share that analysts were calling for in their consensus estimate, according to data compiled by Zacks Investment Research, while also beating the 66 cents per share it brought in during the year-ago quarter.

Shoe Carnival added that for the period, it amassed revenue of $269.2 million, which was below the $287.47 million that the company brought in during the year-ago quarter. The figure was also stronger than the Zacks guidance by 1.43%.
For its fiscal 2018, the company now sees its earnings in the range of $2.36 to $2.38 per share, with revenue slated to be $1.02 billion.

Shoe Carnival stock was sliding about 4.9% during regular trading hours on Thursday as the company geared up to report its latest quarterly earnings figures. SCVL shares were skyrocketing late in the day as the company posted results that came in well ahead of what the Wall Street consensus estimate was calling for.

The stock is selling at $37.09 per share as of Friday’s open.


Article printed from InvestorPlace Media, https://investorplace.com/2018/11/shoe-carnival-stock-scvl/.

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