Canada Goose (NYSE:GOOS) earnings for the winter clothing company’s fiscal fourth quarter of 2020 have GOOS stock taking flight on Wednesday. That’s despite its adjusted losses per share of 12 cents missing Wall Street’s estimate of -9 cents. Luckily, its revenue of C$140.9 million is well above analysts’ estimates of C$67.86 million.
Now, let’s take a more thorough look at the most recent Canada Goose earnings report.
- Adjusted per-share losses fell from adjusted EPS of 9 cents from the same time last year.
- Revenue for the quarter is sitting 9.8% lower than the C$156.2 million reported in fiscal Q4 2019.
- Operating loss of -C$17.2 million is worse year-over-year compared to an operating income of C$11.7 million.
- The Canada Goose earnings report also includes a net income of C$2.5 million.
- This is a 72.2% drop from the company’s net income of C$9 million from the same period of the year prior.
Dani Reiss, president and CEO of Canada Goose, said this in the earnings report.
“Given the underlying circumstances, I am incredibly proud of the results our team has delivered. We are actively and strategically managing through this temporary period of global uncertainty and delivering against key priorities for the business. I remain incredibly optimistic about Canada Goose’s prospects for the future.”
Canada Goose isn’t providing a fiscal 2021 outlook due to the novel coronavirus. However, it does say it expects revenue in fiscal Q1 2021 to be negligible. The company also notes that the first quarter is typically its weakest.
GOOS stock was up 16.6% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.