GAP (NYSE:GPS) earnings for fiscal fourth quarter of 2019 have GPS stock up after-hours Thursday. This follows its adjusted earnings per share (EPS) of 58 cents beating out Wall Street’s estimate of 41 cents. The clothing retail company’s revenue of $4.67 billion also comes in above analysts’ estimates of $4.55 billion.
Let’s take a more thorough look at the most recent GAP earnings report below.
- Adjusted per-share earnings for the quarter are down 20.83% from 72 cents in fiscal Q1 2018.
- Revenue comes in 1.08% higher than the $4.62 billion reported during the same time last year.
- Operating loss of -$245 million is a switch year-over-year from an operating income of $372 million.
- The GAP earnings release also has it reporting a net loss of -$184 million.
- That’s much worse than the company’s net income of $276 million from the same period of the year prior.
Bob Fisher, interim Chief Executive Officer of GAP, said this about the GPS stock earnings report:
“While fiscal 2019 was a challenging year, I am proud of our teams and their commitment to Gap Inc. Thanks to their efforts, we began to see stabilization in our business in the fourth quarter, driven primarily by improvement in Old Navy’s performance.”
The GAP earnings report also includes its outlook for fiscal 2020. This has it expecting adjusted EPS of $1.80 to $1.92. That guidance doesn’t include any kind of consideration for effects from the coronavirus from China. Wall Street’s estimate is for adjusted per-share earnings of $1.68 for the year.
GPS stock was up 1.09% after markets closed Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.