Lands’ End (NASDAQ:LE) earnings for the clothing and home decorations retailer’s third quarter of 2019 have LE stock heading higher on Tuesday. This is due to its diluted earnings per share of 11 cents. That beats out Wall Street’s estimate of 9 cents for the quarter. Revenue of $340.02 million is below analysts’ estimates of $349.77 million, but isn’t keeping LE stock down today/Let’s take a closer look at the most recent Lands’ End earnings report.
- Diluted EPS is up 10% from 10 cents in the same period of the year prior.
- Revenue is sitting less than 1% lower compared to $341.57 million in the third quarter of 2018.
- Lands’ End notes that the revenue decline is due to it operating 89 fewer locations in Sears stores.
- Operating income of $10.91 million is 28.50% better YoY from $8.49million.
- The Lands’ End earnings report also includes a net income of $3.61 million.
- That’s a 9.73% increase over its net income of $3.29 million reported during the same time last year.
Jerome Griffith, President and CEO of Lands’ End, says this about the LE stock earnings.
“We were pleased to have delivered strong financial results for the third quarter as gross margin expansion and expense management enabled us to achieve Adjusted EBITDA(1) growth of approximately 20%.”
The Lands’ End earnings report also includes an update to its 2019 outlook. The company now expects diluted per-share earnings to range from 55 cents to 64 cents. That’s great for LE stock as Wall Street’s estimate has EPS coming in at 50 cents.
LE stock was up 16.48% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.