Stein Mart Inc. (NASDAQ:SMRT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Stein Mart Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 22.22% to $0.33 in the quarter versus EPS of $0.27 in the year-earlier quarter.
Revenue: Rose 5.94% to $321.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Stein Mart Inc. reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.29. It beat the average revenue estimate of $312.3 million.
Quoting Management: “We ended the quarter strongly with an 8.0 percent comp sales increase in April and a positive comp for the quarter, despite a slow start caused by colder than normal weather and the Easter calendar shift,” said Jay Stein, Chief Executive Officer. “Our increased sales and a higher gross profit rate leveraged against relatively flat expenses drove our substantially higher earnings.”
Key Stats (on next page)…