Franklin Covey (NYSE:FC) earnings for the organizer company’s fiscal third quarter of 2020 have FC stock taking a beating after-hours Thursday. That comes after reporting diluted losses per share of 79 cents on revenue of $37.11 million. Neither of these were able to match Wall Street’s estimates of -30 cents per share on revenue of $48.88 million.
Here’s what else went wrong for Franklin Covey in its most recent earnings report.
- Diluted per-share earnings are 464.3% worse than the -14 cents reported in fiscal Q3 2019.
- Revenue for the quarter comes in 33.7% lower than the $56.01 million reported in the same period of the year prior.
- Operating loss of $145,000 is a 92.2% improvement year-over-year from -$1.86 million.
- The Franklin Covey earnings report also has net loss coming in at $10.97 million.
- That’s a 443.1% wider net loss than the $2.02 million reported during the same time last year.
Bob Whitman, chairman and CEO of Franklin Covey, said this in the earnings report.
“While we know that the future is clouded by the COVID-19 pandemic and will present additional financial challenges, we believe our ongoing investments in offerings and electronic delivery capabilities uniquely position us to grow in the future.”
Franklin Covey isn’t updating guidance at this time. The company previously withdrew its guidance due to the novel coronavirus. This has it following a similar trend as many other companies during the pandemic.
FC stock was down 8.8% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.