Guess (NYSE:GES) earnings for the clothing brand and retailer’s fiscal fourth quarter of 2020 have GES stock taking off after-hours Wednesday. This is due to its adjusted earnings per share (EPS) of $1.22 beating out Wall Street’s estimate of $1.12. However, its revenue of $842.25 million doesn’t meet analysts’ estimates of $851.19 million.
Here’s what else is worth mentioning from the most recent Guess earnings report.
- Adjusted EPS is sitting 74.29% higher than the 70 cents reported during the same time last year.
- Revenue for the quarter is up slightly from the $837.13 million from the fiscal fourth quarter of 2018.
- Operating income of $96.51 million is a 44.65% increase year-over-year from $66.72 million.
- The Guess earnings report also contains its net income of $82.05 million.
- That’s a 225.08% boost compared to its net income of $25.24 million from the same period of the year prior.
Carlos Alberini, Chief Executive Officer of Guess, said this about the GES stock earnings report:
“I am very pleased to report that we had a strong fourth quarter performance, exceeding our guidance for earnings per share and delivering operating profit at the high end of our expectations. We closed the year with strong liquidity and a solid balance sheet, which positions us well to navigate through the current coronavirus crisis.”
There’s no guidance for fiscal 2021 in the current Guess earnings report. The company says that it isn’t providing an outlook due to the turbulence caused by the coronavirus from China.
GES stock was up 24.62% after-hours Wednesday but closed out the day down 38.07%.
As of this writing, William White did not hold a position in any of the aforementioned securities.