Zumiez Earnings: ZUMZ Stock Soars 11% Higher on Q2 Beats

Zumiez (NASDAQ:ZUMZ) earnings for the clothing company’s second quarter of 2020 have ZUMZ stock soaring higher after-hours Thursday. That comes after reporting diluted earnings per share of $1.01 on revenue of $250.39 million. Both of these are better than Wall Street’s estimates of 33 cents per share and revenue of $234.21 million.

Zumiez (ZUMZ) sign with bright white letters

Source: Sundry Photography / Shutterstock.com

Let’s take a deeper dive into the most recent Zumiez earnings report below.

  • Diluted per-share earnings are up 180.6% than the 36 cents reported in Q2 2019.
  • Revenue for the quarter comes in 9.6% higher than the $228.43 million reported during the same time last year.
  • Operating income of $33.11 million is a 183.7% improvement year-over-year from $11.67 million.
  • The Zumiez earnings report also has it bringing in a net income of $25.39 million.
  • That’s a 181.2% increase compared to the company’s net income of $9.03 million from the same period of the year prior.

Rick Brooks, CEO of Zumiez, said this in the earnings report.

“As an organization, we successfully executed a quick and safe reopening of the majority of our stores in the quarter, while continuing to lean heavily on our omni platforms to fulfill strong demand for our distinct merchandise offering. Our recent performance amidst the pandemic underscores the strength of our brand and culture and speaks to the ability of our business model to adapt to changes in purchasing behavior while continuing to drive strong earnings growth and cash generation.”

Zumiez isn’t offering guidance at this time due to the novel coronavirus. Many other companies are doing the same during the pandemic.

ZUMZ stock was up 11.2% after-hours Thursday but closed out normal trading hours down 6.4%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/zumiez-earnings-boost-zumz-stock-higher/.

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