Canada Goose Earnings: GOOS Stock Slumps 4% on Guidance Cut

Canada Goose (NYSE:GOOS) earnings for the winter clothing company’s fiscal third quarter of 2020 have GOOS stock falling on Friday. That comes after reporting adjusted earnings per share (EPS) of 81 cents. This is better than Wall Street’s estimate of 80 cents for the quarter. Also, the company’s 3Q revenue of $339.88 million beats analysts’ estimates of $336.93 million.

Canada Goose Earnings: GOOS Stock Slumps 4% on Guidance Cut

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Now for a more in-depth look at the most recent Canada Goose earnings report.

  • Adjusted EPS is sitting about 14% above 71 cents from the fiscal third quarter of 2019.
  • Revenue for the quarter comes in 13.23% higher than the $300.18 million from the same time last year.
  • Operating income of $121.34 million is a 15.38% increase YoY from $105.17 million.
  • The Canada Goose earnings report has its net income for the quarter coming in at $88.7 million.
  • That’s a 14.11% improvement compared to its net income of $77.73 million from the same period of the year prior.

Dani Reiss, President and CEO of Canada Goose, says this concerning the GOOS stock earnings report:

“We delivered robust growth in the third quarter, notwithstanding geopolitical headwinds and an expected revenue timing shift in our wholesale business. Our DTC expansion continues to unlock and accelerate our development in major international markets.”

The Canada Goose earnings report also includes a guidance warning for 2020. It now expects adjusted EPS of $1.00 to $1.03, and revenue between $710.34 million to $717.86 million. That doesn’t look good next to Wall Street’s estimates of $1.26 per share and $770 million. That said, GOOS points to the coronavirus from China as the reason behind its lower outlook.

GOOS stock was down as much as 4.6% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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