Michaels Earnings: MIK Stock Soars on Q4 Beat

MIK beat EPS and revenue estimates for Q4

The Michaels earnings report for the fourth quarter of 2018 has MIK stock heading higher on Tuesday.

Michaels Earnings: MIK Stock Soars on Q4 Beat
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Michaels (NASDAQ:MIK) reported earnings per share of $1.44 for the fourth quarter of the year. This is an increase over the company’s earnings per share of $1.19 reported in the fourth quarter of 2017. It was also good news for MIK stock by coming in above Wall Street’s earnings per share estimate of $1.42 for the period.

Net income reported in the Michaels earnings release for the fourth quarter of 2018 comes in at $181.40 million. This is a drop from the company’s net income of $202.97 million reported in the same period of the year prior.

Operating income in the Michaels earnings report for the fourth quarter of the year is $272.23 million. The arts and crafts retail company reported operating income of $354.29 million in the fourth quarter of the previous year.

Michaels earnings for the fourth quarter of 2018 also include revenue of $1.79 billion. This is down from the company’s revenue of $1.89 billion reported during the same time last year. Despite the decrease, it is still a positive for MIK stock by beating out analysts’ revenue estimate of $1.78 billion for the quarter.

The most recent Michaels earnings report also includes the company’s outlook for the full year of 2019. It is expecting earnings per share between $2.34 and $2.46 on revenue ranging from $5.19 billion to $5.24 billion. Wall Street is looking for earnings per share and revenue of $2.48 and $5.26 billion for the year.

MIK stock was up 14% as of noon Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/03/michaels-earnings-send-mik-stock-soaring/.

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