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Kirkland’s Earnings: KIRK Stock Declines 6% After-Hours Following a Mixed Quarter


Kirkland’s (NASDAQ:KIRK) earnings report for the company’s fiscal fourth quarter of 2019 saw KIRK stock take off Friday … before coming back to earth in after-hours trading. This comes after reporting adjusted earnings per share of 59 cents on revenue of $209.41 million. These are mixed results next to Wall Street’s estimates of 67 cents per share and revenue of $190.7 million.

Kirkland's Earnings: KIRK Stock Rockets 9% Following Q4 Results

Source: Eric Glenn / Shutterstock.com

Here’s what else is worth pointing out from the most recent Kirkland’s earnings report.

  • Adjusted per-share earnings of 59 cents are down from 97 cents during the same time last year.
  • Revenue for the quarter comes in 3.12% lower than the $216.15 million reported in the fiscal fourth quarter of 2018.
  • Operating loss of -$5.21 million is a negative switch year-over-year from an operating income of $19.08 million.

Woody Woodward, Chief Executive Officer of Kirkland’s, said the following about the KIRK stock earnings report.

“We accomplished a great deal in 2019 to evolve our merchandise assortment and improve the omni-channel experience. We’re encouraged that some of the hard work began to take hold in the fourth quarter, with strong e-commerce growth and better revenues in segments of the assortment including furniture and tabletop.”

The Kirkland’s earnings report doesn’t include specific details for its 2020 guidance. Nevertheless, we know what Wall Street is expecting. That includes adjusted losses per share of 74 cents on revenue of $540.81 million.

KIRK stock was down 6.6% as of after-hours trading Friday.

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/2020/03/kirklands-earnings-send-krik-stock-soaring/.

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