Container Store (NYSE:TCS) reported its latest quarterly earnings results late today, bringing in a profit and revenue that topped what analysts called for, helping to lift TCS stock more than 10% after hours.
The Coppell, Texas-based specialty retail business said that for its fourth quarter of the last fiscal year, it brought in a profit of $15.88 million, or 33 cents per share. This amount eclipsed the company’s loss from the year-ago quarter, which was $399,000, or a penny per share.
On an adjusted basis when excluding certain items, Container Store would have earned roughly 33 cents per share, marking an 83.3% increase over its adjusted earnings of 18 cents per share from the year-ago period. Analysts called for the company to amass adjusted earnings of 30 cents per share, according to a survey conducted by FactSet.
The business also brought in revenue of $253.2 million, marking an 8.8% increase when compared to its sales from the year-ago quarter. The amount was also stronger than the Wall Street consensus estimate of $243 million, according to a survey of analysts from FactSet.
Container Store’s comparable-store sales for the period were up 8.5% year-over-year. For its fiscal 2019, the business forecasted net sales of $915 million to $925 million and a profit of 41 cents to 51 cents per share.
TCS stock is soaring roughly 12.1% after the bell Tuesday off the heels of an impressive quarterly earnings performance from Container Store that included earnings and revenue that surpassed what analysts called for in their consensus estimate. Shares had been sliding about 0.2% during regular trading hours.