Canada Goose stock was taking a beating on Thursday following the release of its earnings report for its fiscal third quarter of 2019.
Canada Goose (NYSE:GOOS) reported earnings per share of 96 cents for its fiscal third quarter of the year. This is an increase over the company’s earnings per share of 58 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 81 cents for the quarter, but Canada Goose stock is still down today.
The earnings report from Canada Goose for its fiscal third quarter of 2019 also includes net income of C$103.40 million. This is better than its net income of C$63.00 million reported in its fiscal third quarter of 2018.
Operating income reported by Canada Goose for its fiscal third quarter of the year comes in at C$139.90 million. The Canadian clothing company reported operating income of C$89.90 million in the same period of the year prior.
Canada Goose also reported revenue of C$399.30 million for its fiscal third quarter of 2019. This is up from its revenue of C$265.90 million reported in its fiscal third quarter of the previous year. It also comes in above analysts’ revenue estimate of C$359.70 million for the period, but Canada Goose stock is still down.
Canada Goose stock is down despite a strong earnings beat for its fiscal fourth quarter of 2019, but why? It may be a high amount of trading on the positive earnings report that has shares of Canada Goose stock falling today.
GOOS stock was down 8% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.