Zumiez (ZUMZ) Stock Is Plummeting Despite Q3 Earnings Beat

Zumiez (NASDAQ:ZUMZ) stock is falling more than 7% after the bell as the company reported its latest quarterly earnings results, which did top analysts’ expectations, but its guidance for its current quarter is below what Wall Street’s consensus estimate forecasts.

Zumiez (ZUMZ) Stock

The trendy apparel maker said that for its third quarter of fiscal 2018, it brought in earnings of $13.8 million, or 55 cents per share. The figure came in ahead of what the Wall Street consensus estimate called for as six analysts who were surveyed by Zacks Investment Research were projecting the company to amass adjusted earnings of 48 cents per share.

Zumiez added that it raked in revenue of $248.8 million for the quarter, which was also better than Wall Street was calling for. Six analysts who were surveyed by Zacks came to a midpoint revenue guidance of $248.6 million for the company’s third quarter.

For its fourth quarter of fiscal 2018, the company said that it sees its revenue as being in the range of $295 million to $301 million. Analysts who were surveyed by Zacks said they were calling for revenue of $315.4 million for the period.

ZUMZ stock is down about 7.6% after the bell following the company’s quarterly earnings results, which beat expectations but its guidance is below the mark for its fourth quarter. ZUMZ stock had gained 0.3% during regular trading hours.

Article printed from InvestorPlace Media, https://investorplace.com/2018/12/zumiez-zumz-stock-3/.

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