At Home (NYSE:HOME) earnings for the home decor retailer’s fiscal third quarter of 2020 are devastating HOME stock in after-hours trading on Tuesday. This is despite it reporting flat EPS for the quarter, which is better than Wall Street’s -2 cents estimate. Revenue of $318.73 million is also above analysts’ estimates of $314.86 million, but couldn’t save HOME stock.
Let’s see what is happening in the At Home earnings report for fiscal Q3 2020.
- Flat EPS is down 100% from 18 cents in the company’s fiscal third quarter of 2019.
- Revenue is 19.29% better than the $267.18 million reported during the same time last year.
- Operating income of $1.99 million is an 89.58% drop YoY from $19.10 million.
- The At Home earnings report also sees the company move from net profit in fiscal Q3 2019 to a net loss for the current quarter.
Lee Bird, Chairman and CEO of At Home, says this about the HOME stock earnings.
“We delivered our 23rd straight quarter of at least high teens revenue growth and exceeded our profit guidance, driven by strong productivity of our new stores and outperformance in our Fall and Halloween assortments. We are also pleased that our disciplined efforts to improve our inventory position have been highly effective.”
The problem in the At Home earnings report comes from its lowered outlook for fiscal 2020. The company now expects adjusted earnings per share to range from 51 cents to 56 cents with revenue coming in between $1.352 billion and $1.360 billion. This will have it missing Wall Street’s estimates of 68 cents and $1.38 billion for the period.
HOME stock was down 35.79% in after-hours trading on Tuesday. It finished out the day up 4.27%
As of this writing, William White did not hold a position in any of the aforementioned securities.