Investors in Express (NYSE:EXPR) stock are celebrating on Thursday thanks to the release of the company’s Q3 2021 earnings report.
Let’s break down that earnings report below to see what all the smiles are about!
- Starting off the Q3 results are adjusted earnings per share of 17 cents.
- That’s a massive win for EXPR stock when compared to Wall Street’s estimate of 2 cents per share.
- It’s also a positive change for the company next to adjusted losses per share of $1.17 in Q3 2020.
- To mention a negative real quick, revenue for the quarter comes in at $472 million.
- That falls below Wall Street’s estimate of $503.1 million for the period.
- Even so, it represents revenue growth of 47% year-over-year.
- It’s also worth highlight that both net income and operating income switched from losses during the same time last year.
Tim Baxter, CEO of Express, said the following in the company’s Q3 earnings report.
“Our results provide tangible evidence that the versatility, quality and value of our product is resonating with consumers. I am confident that we will continue to deliver positive comparable sales and gross margin expansion versus 2019 in the fourth quarter.”
The EXPR earnings report brings with it heavy trading of the company’s stock today. That has more than 18 million shares on the move as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 3.7 million shares.
EXPR stock is up 10.5% as of Thursday afternoon and is up 302.6% since the start of the year.
Of course, there’s more stock market news today traders will want to know about!
Fortunately, InvestorPlace has them covered with our daily dives into the stock market. For today, that includes everything traders need to know abut shares of Biofrontera (NASDAQ:BFRI), Aurinia Pharma (NASDAQ:AUPH), and Square (NYSE:SQ) moving today. You can get up to speed on that at the following links!
More Thursday Stock Market News
- BFRI Stock: The News That Has Biofrontera Shares Bounding Higher Today
- AUPH Stock: The Novartis Takeover Talk That Has Aurinia Pharma Shares Taking Off Today
- SQ Stock Alert: Square Afterpay Merger Announcement Sends Shares Lower
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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