Macy’s earnings report for the fourth quarter of 2018 was released by the retail company on Tuesday.
Macy’s (NYSE:M) starts off its earnings report for the fourth quarter of 2018 with earnings per share of $2.73. This is a drop from the company’s earnings per share of $2.85 cents from the same time last year. Despite the drop, this does still come in above Wall Street’s earnings per share estimate of $2.53 for the period.
The Macy’s earnings report for the fourth quarter of the year also has it bringing in net income of $740 million. That’s down from the company’s net income of $1.35 billion reported in the fourth quarter of 2017.
Operating income reported in the Macy’s earnings release for the fourth quarter of 2018 was $1.05 billion. This is a decrease from the retail company’s operating income of $1.25 billion reported in the fourth quarter of the previous year.
Macy’s earnings report for the fourth quarter of 2018 also includes revenue of $8.46 billion. The company’s revenue from the same period of the year prior was $8.67 billion. Even with this drop, M’s revenue for the fourth quarter of the year still just barely beats out analysts’ estimate of $8.45 billion.
Macy’s also provides guidance for the full year of 2019 in its most recent earnings report. The company is expecting earnings per share to range from $3.05 to $3.25 for the year. Wall Street is looking for earnings per share of $3.30 in 2019.
M stock was up slightly as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
