Ralph Lauren Earnings: RL Stock Shoots 10% Higher on Q3 Beat

Ralph Lauren (NYSE:RL) earnings for the clothing retailer’s fiscal third quarter of 2020 have RL stock heading higher on Tuesday. That’s thanks to its adjusted per-share earnings of $2.86. This is well above Wall Street’s estimate of $2.45 per share. Revenue of $1.75 billion also beats out analysts’ estimates of $1.72 billion.

Ralph Lauren Earnings: RL Stock Shoots 10% Higher on Q3 Beat

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Now for a closer look at the most recent Ralph Lauren earnings report.

  • Adjusted EPS is up 23.28% from $2.32 during the same time last year.
  • Revenue for the quarter comes in 1.16% above the $1.73 billion from the fiscal third quarter of 2019.
  • Operating income of $224.40 million is a 15.79% increase YoY from $193.80 million.
  • The Ralph Lauren earnings report also includes a net income of $334.10 million.
  • This is a 178.42% improvement over the $120.00 million from the same period of the year prior.

Patrice Louvet, President and CEO of Ralph Lauren, says this about the RL stock earnings report.

“We continue to make strong progress on our Next Great Chapter plan amid a volatile backdrop, with third quarter results ahead of our overall expectations, including better than expected revenues, operating margin, and double-digit EPS growth.”

The Ralph Lauren earnings report also provides guidance for the fiscal fourth quarter of 2020. This includes a slight increase in revenue and a tax rate of approximately 26%.

RL stock was up 10.42% as of Tuesday afternoon.

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/ralph-lauren-earnings-send-rl-stock-soaring/.

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