Buckle Earnings: BKE Stock Falls 6% on Horrible Q1 Earnings Miss

BKE missed EPS and revenue estimates for the quarter

Buckle (NYSE:BKE) earnings for the fashion retail company’s first quarter of 2020 have BKE stock taking a beating on Friday. That’s due to its diluted losses per share of 24 cents missing Wall Street’s diluted EPS estimate of 5 cents. Its revenue of $115.41 million also doesn’t help by coming in below analysts’ estimates of $143.23 million.

Buckle Earnings: BKE Stock Falls 6% on Horrible Q1 Earnings Miss
Source: damann / Shutterstock.com

Now, let’s take a deeper dive into the Buckle earnings report below.

  • Diluted per-share losses are much worse compared to diluted earnings per share of 31 cents from the same time last year.
  • Revenue comes in 42.7% lower than the $201.31 million reported in the first quarter of 2019.
  • Operating loss of -$16.18 million is a drop from the company’s net income of $18.73 million in Q1 2019.
  • The Buckle earnings report also has net loss coming in at -$11.78 million.
  • That’s a huge drop from BKE’s net income of $15.09 million in the same period of the year prior.

Buckle makes sure to mention the following in its current earnings report.

“As previously announced, Buckle closed all brick and mortar stores due to the COVID-19 pandemic for an indefinite period beginning March 18, 2020. The Company began the process of reopening certain stores the week of April 26, 2020, following state and local reopening guidelines.”

Buckle doesn’t discuss guidance in its most recent earnings report. That’s not surprising considering how the novel coronavirus is affecting retail companies. Many others are also withholding guidance during the pandemic.

BKE stock was down 5.7% as of Friday afternoon.

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


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