TJX stock was hit hard on Tuesday following the release of its earnings report for its third quarter of fiscal 2019.
TJX (NYSE:TJX) reported earnings per share of 54 cents for its third quarter of the fiscal year. This is up from its earnings per share of 50 cents from its third quarter of fiscal 2018. However, it was a blow to TJX stock by easily missing Wall Street’s earnings per share estimate of 61 cents for the period.
The third-quarter earnings report for fiscal 2019 has TJX reporting net income of $762.25 million. This is better than the company’s net income of $641.44 million reported in the same period of the year prior.
TJX’s earnings report for the third quarter of fiscal 2019 also includes revenue of $9.83 billion. This is an increase over the company’s revenue of $8.76 billion reported in the third quarter of the previous fiscal year. It also beat out analysts’ revenue estimate of $9.49 billion for the quarter, but was unable to keep TJX stock from falling today.
TJX also provides an outlook for its fiscal full year of 2019 during its most recent earnings report. It is expecting earnings per share for the fiscal year to range from $2.08 to $2.09. That isn’t good news for TJX stock. This is due to Wall Street looking for earnings per share of $2.47 for the fiscal full year of 2019.
TJX stock was down 3% as of noon Tuesday, but is up 27% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.