Express (NYSE:EXPR) earnings for fiscal first quarter of 2020 have EXPR stock taking a beating on Wednesday. That’s due to its reporting adjusted losses per share of $1.55, which is well below Wall Street’s estimate of a 47-cent loss. Its revenue of $210.28 million also doesn’t help by missing analysts’ estimates of $289.69 million.
Let’s take a deeper dive into the most recent Express earnings report below.
- Adjusted per-share losses are 1,133.3% wider than the a loss of 15 cents from the same time last year.
- Revenue is sitting 53% lower compared to $451.27 million in the fiscal first quarter of 2019.
- Operating loss of $145.28 million is 1,157.8% worse year-over-year from a loss of $11.55 million.
- The Express earnings report also has net loss coming in at $154.05 million.
- That’s a 1,451.4% wider net loss then the company’s $9.93 million from the same period of the year prior.
Tim Baxter, CEO of Express, said this in the Q1 earnings report:
“The impact of the COVID-19 pandemic on our industry, economy, communities, associates, and customers over the last few months is unlike anything we have experienced before; and the protests and demonstrations across the country over the last week create even more uncertainty. As a Company, our efforts have been focused on protecting the safety of our associates and customers, and ensuring sufficient liquidity to continue the important work of our transformation.”
Express isn’t providing a full outlook for the fiscal second quarter of 2020 or the full year. However, it does reveal that it expects capital expenditures during the year to range from $20 million to $25 million.
EXPR stock was down 7.8% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.