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Macy’s Earnings: M Stock Slumps 5% Despite Q4 Topper

M beat out EPS and revenue estimates

Macy’s (NYSE:M) earnings for the retail company’s fourth quarter of 2019 have M stock down on Tuesday. This is despite its adjusted earnings per share (EPS) of $2.12, which beats out Wall Street’s estimate of $1.96 per share. Its revenue of $8.34 billion is also above analysts’ estimates of $8.32 billion for the quarter.

Macy's Earnings: M Stock Slumps 4% Despite Q4 Topper
Source: digitalreflections / Shutterstock.com

Now, let’s take a closer look at the most recent Macy’s earnings report.

  • Adjusted EPS is down 22.34% from $2.73 during the fourth quarter of 2018.
  • Revenue is sitting 1.42% lower than the $8.46 billion from the same period of the year prior.
  • Operating income of $559 million is a 46.76% drop year-over-year from $1.05 billion.
  • The Macy’s earnings report also has it bringing in a net income of $340 million.
  • This is a 54.05% decline compared to its net income of $740 million during the same time last year.

Jeff Gennette, Chairman and CEO of Macy’s, had this to say about the M stock earnings report:

“Taken as a whole, 2019 did not play out as we intended for Macy’s, Inc. However, we executed well during the Holiday 2019 season. We were pleased with the significant trend improvement in the fourth quarter, including a meaningful sales uptick in the 10 shopping days before Christmas.”

The Macy’s earnings report doesn’t have it updating its 2020 guidance. Instead, it’s sticking with adjusted EPS of $2.20 to $2.40 on revenue of $23.6 billion to $23.9 billion. Wall Street’s 2020 estimates are for $2.45 per share on revenue of $23.81 billion.

M stock ended the day down 5.5%.

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


Article printed from InvestorPlace Media, https://investorplace.com/2020/02/macys-earnings-hit-m-stock/.

©2020 InvestorPlace Media, LLC