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Guess Earnings: GES Stock Higher as Q1 Loss Narrower Than Guidance

Guess (NYSE:GES) posted its quarterly earnings results for the first period of the new fiscal year, bringing in mostly positive results that included a loss that was narrower than what the Wall Street guidance called for, while also revealing its projected results for its second quarter of the year, playing a role in lifting GES stock slightly after the bell Thursday.

Guess EarningsThe clothing brand — based out of Los Angeles, Calif. — said that for its first quarter of its fiscal 2019, it posted a loss of $21.4 million, which tallied up to roughly 27 cents per share. On an adjusted basis when taking into account one-time gains and costs, the company’s loss came in slightly narrower at 25 cents per share.

This figure was narrower than the Wall Street consensus estimate as the average estimate of three analysts who were surveyed by Zacks Investment Research was for Guess to post a loss of 26 cents per share. The business added that it brought in sales of $536.7 million.

For its second quarter of the fiscal year, the company projects earnings in the range of 27 cents to 30 cents per share. For the fiscal year, Guess is calling for earnings of $1.19 to $1.30 per share.

GES stock is up about 1.4% after hours off the heels of a positive quarterly performance for the company that saw its loss come in at a narrower amount than what the Wall Street consensus estimate called for. Shares had been declining about 1.5% during regular trading hours for Guess as the business geared up to report its quarterly figures for its first three months of its fiscal 2019.

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