S&P 500 (NYSE:SPY) component Tiffany & Co. (NYSE:TIF) reported its results for the third quarter. Tiffany & Co. is a jeweler and specialty retailer that sells timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.
Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now
Tiffany & Co. Earnings Cheat Sheet
Results: Net income for Tiffany & Co. fell to $63.2 million (49 cents per share) vs. $89.7 million (70 cents per share) a year earlier. This is a decline of 29.6% from the year-earlier quarter.
Revenue: Rose 3.8% to $852.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tiffany & Co. fell short of the mean analyst estimate of 63 cents per share.
Last quarter was the fifth in a row that the company saw shrinking gross margins, as they fell 3.5 percentage points from the year-earlier quarter to 54.4%. Over that time, margins have contracted on average 1.7 percentage points per quarter on a year-over-year basis.
The company has missed analyst estiamtes for four quarters in a row. It fell short by 2 cents in the second quarter, by 5 cents in the first quarter, and by 3 cents in the fourth quarter of the last fiscal year.
Revenue has increased for four quarters in a row. Revenue increased 1.6% to $886.6 million in the second quarter. The figure rose 7.6% in the first quarter from the year earlier and climbed 7.8% in the fourth quarter of the last fiscal year from the year-ago quarter.
Last quarter’s profit decrease ends a two-quarter streak of year-over-year profit increases. Net income rose 2% in the second quarter and 0.6% in the first quarter.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from $1.60 a share to $1.61 over the last sixty days. The average estimate for the fiscal year has remained at $3.59 per share.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories: