Williams-Sonoma stock (NYSE:WSM) was sinking late in the day Thursday as the company reported its latest quarterly earnings results, which included revenue that was below what the Wall Street consensus was projecting from the company.
The appliance maker said that for its third quarter of fiscal 2018, it brought in net income of $81.5 million, or $1 per share. The figure was $10.2 million higher than the $71.3 million, or 84 cents per share that analysts were calling for in their consensus estimate.
On an adjusted basis when considering one-time items, Williams-Sonoma brought in earnings of 95 cents per share. According to a survey conducted by FactSet, analysts were calling for the appliance maker to rake in adjusted earnings of 94 cents per share, which were below what the company brought in.
The company’s sales were up by 4.4% when compared to the year-ago quarter, reaching $1.36 billion versus the $1.30 billion from the third quarter of fiscal 2017. The Wall Street consensus estimate was expecting the company to bring in revenue of $1.37 billion for the period, according to a FactSet survey.
Williams-Sonoma stock was down about 2% during regular trading hours on Thursday in anticipation of the company’s quarterly earnings results. WSM shares were sinking about 13.1% after the bell as the company unveiled its latest results, which included revenue that was below what Wall Street was calling for.