The Macy’s earnings report for the first quarter of 2019 is out.
Macy’s (NYSE:M) starts out its earnings report for the first quarter of the year with earnings per share of 44 cents. This is down from the company’s earnings per share of 48 cents from the same time last year. However, it still has the company beating out Wall Street’s earnings per share estimate of 33 cents for the quarter.
Net income reported in the most recent Macy’s earnings release come in at $136 million. This is an increase over the company’s net income of $131 million reported in the same period of the year prior.
Operating income reported by Macy’s for the first quarter of 2019 is sitting at $203 million. That’s a drop from the retail company’s operating income of $238 million reported in the first quarter of 2018.
The Macy’s earnings report for the first quarter of the year also includes revenue of $5.50 billion. This is a decrease from the company’s revenue of $5.54 billion reported in the first quarter of the previous year. Unfortunately, this also has it missing analysts’ revenue estimate of $5.52 billion for the period.
Macy’s notes that it is reaffirming its outlook for the full year of 2019. This still has it expecting earnings per share between $3.05 and $3.25 on flat revenue growth from the previous year. Wall Street is looking for earnings per share and revenue of $3.09 and $25.02 billion for the year.
M stock was down slightly as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.