Urban Outfitters Earnings: URBN Stock Dips Despite Profit Beat

Shares were down about 4% after the bell

Urban Outfitters (NASDAQ:URBN) posted its latest quarterly figures on Tuesday after Wall Street closed, with URBN stock moving downwards despite a strong end to its fiscal 2018 on the earnings front.

Urban Outfitters EarningsThe apparel chain reported a fourth-quarter profit of roughly $86.4 million, or 80 cents per share, which smashed its year-ago earnings of $1.3 million, or a penny per share. On an adjusted basis when taking into account changes to the U.S. tax code and other items, the brand’s profit was 83 cents per share.

Analysts were calling for Urban Outfitters to announce a profit of about 79 cents per share, according to a survey conducted by FactSet. Revenue was also strong at $1.13 billion, ahead of the $1.09 billion that it raked in during the fourth quarter of fiscal 2017.

The Wall Street guidance called for the brand to rake in sales of $1.13 billion, according to data compiled by FactSet. “The fourth quarter closed what was an incredibly successful year for URBN and all of our brands,” said CEO Richard A. Hayne.

For its first quarter of the new fiscal year, Wall Street analysts are predicting earnings of roughly 39 cents a share on total sales of $879 million.

URBN stock was up about 0.5% during regular trading hours as the company geared up to report its results for the period. Shares then slid roughly 4% after the bell on Tuesday despite an earnings beat and in-line revenue.

Article printed from InvestorPlace Media, https://investorplace.com/2019/03/urban-outfitters-earnings-urbn-stock-2/.

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