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Foot Locker Earnings: FL Stock Tanks on Q1 Miss

Foot Locker earnings for the first quarter of 2019 have FL stock falling hard on Friday.

fl stock Foot Locker stock
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Foot Locker (NYSE:FL) reported earnings per share of $1.53 for the first quarter of the year. This is an increase over the company’s earnings per share of $1.45 cents from the same period of the year prior. However, it was bad news for FL stock by missing Wall Street’s earnings per share estimate of $1.61 for the quarter.

Net income reported in the Foot Locker earnings release for the first quarter of 2019 comes in at $172.00 million. This is up over the company’s net in come of $165.00 million reported in the first quarter of 2018.

The Foot Locker earnings report for the first quarter of the year also includes operating income of $228.00 million. That’s better than the company’s operating income of $224.00 million reported during the same time last year.

Foot Locker earnings for the first quarter of 2019 have revenue coming in at $2.08 billion. This is an improvement over the company’s revenue of $2.03 billion from the first quarter of the previous year. Unfortunately for FL stock, this doesn’t have it reaching analysts’ revenue estimate of $2.11 billion for the period.

The most recent Foot Locker earnings report also includes an update for the full year of 2019. The company says that it is now expecting earnings per share for the year to be up in the high-single digits from last year. Earnings per share for 2018 were $4.71. Wall Street is looking for earnings per share of $5.19 for 2019.

FL stock was down 16% as of Friday morning.

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/2019/05/foot-locker-earnings-drop-fl-stock/.

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