Chico’s FAS earnings for the first quarter of 2019 have CHS stock soaring higher on Tuesday.
Chico’s FAS (NYSE:CHS) starts off its earnings report for the first quarter of the year with earnings per share of 5 cents. This is down from the company’s earnings per share of 23 cents from the same time last year. However, it was a boon to CHS stock by beating out Wall Street’s earnings per share estimate of 3 cents for the quarter.
Net income reported by Chico’s FAS for the first quarter of 2019 comes in at $2.03 million. This is a drop from the company’s net income of $29.00 million reported in the first quarter of 2018.
The Chico’s FAS earnings report for the first quarter of the year also includes operating income of $5.42 million. That’s a decrease from the clothing company’s operating income of $40.45 million reported during the same period of the year prior.
Chico’s FAS earnings for the first quarter of 2019 have revenue coming in at $517.73 million. This is lower than the company’s revenue of $561.82 million reported during the first quarter of the previous year. It also misses analysts’ revenue estimate of $518.30 million for the period, but that wasn’t keeping CHS stock down today.
The most recent Chico’s FAS earnings report also includes its outlook for 2019. The company says that it is expecting revenue for the year to be down in the low-to mid-single digit range from the same time last year.
CHS stock was up 15% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.