Conn’s earnings report for its fiscal fourth quarter of 2019 has CONN stock down on Tuesday despite beating estimates.
Conn’s (NASDAQ:CONN) reported earnings per share of 96 cents for its fiscal fourth quarter of the year. This is an increase over the company’s earnings per share of 56 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate of 76 cents for the quarter, but couldn’t keep CONN stock up today.
Net income reported in the Conn’s earnings release for the company’s fiscal fourth quarter of 2019 was $29.48 million. This is up from the company’s net income of $3.20 million reported in its fiscal fourth quarter of 2018.
Operating income in the Conn’s earnings report for its fiscal fourth quarter of 2019 comes in at $53.77 million. The home furniture company reported operating income of $44.84 million in the same period of the year prior.
The Conn’s earnings report for its fiscal fourth quarter of the year also includes revenue of $432.98 million.This is better than the company’s revenue of $420.39 million reported in its fiscal fourth quarter of the previous year. However, it was bad news for CONN stock by missing analysts’ revenue estimate of $438.12 million for the period.
Conn’s notes that it saw same-store sales for its fiscal fourth quarter of 2019 decrease by 1.4% when compared to the same time last year. CONN attributes this decline to damage done by Hurricane Harvey.
CONN stock was down as much as 8% on Tuesday morning, but is down only down slightly as of the afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.