Urban Outfitters (NASDAQ:URBN) earnings for the lifestyle retail company’s fiscal third quarter of 2020 have URBN stock nosediving in after-hours trading Tuesday. This comes from its diluted EPS of 56 cents on revenue of $987.47 million. For comparison, Wall Street was looking for per-share earnings of 57 cents and revenue of $1.00 billion.
Let’s take a closer look at the most recent Urban Outfitters earnings report.
- Adjusted earnings per share are down 20% from the 70 cents reported during the same time last year.
- Revenue is 1.43% better compared to $973.53 million in the fiscal third quarter of 2019.
- Operating income of $75.27 million is a 21.89% drop YoY from $96.36 million.
- The Urban Outfitters earnings report also includes a net income of $55.65 million.
- This is a 28.21% decrease from the company’s net income of $77.52 million in the same period of the year prior.
Here’s what Richard Hayne, CEO of Urban Outfitters, says about the fiscal Q3 2020 URBN stock earnings.
“I’m pleased to report record third quarter sales, driven by better reaction to our apparel assortments and strength in the digital channel. Looking ahead to Q4, we’re encouraged by positive sales-to-date but realize our highest volume days have yet to be written.”
Urban Outfitters will be holding a conference call at 5:15 p.m. Eastern Time to go over these results. Investors can listen in on the call through a webcast on the company’s website.
URBN stock was down 4.54% when the markets closed on Tuesday. The stock is also down 9.93% in after-hours trading.
As of this writing, William White did not hold a position in any of the aforementioned securities.