Fairway Group Holdings Earnings: Here’s Why the Stock is Rising Now
Fairway Group Holdings Corp (NASDAQ:FWM) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down up 2.63%.
Fairway Group Holdings Corp Earnings Cheat Sheet
Revenue: Decreased 0% to $186.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fairway Group Holdings Corp reported adjusted EPS loss of $2.11 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $187.81 million.
Quoting Management: “We look forward to providing customers a fabulous and unique food shopping experience with fresh, natural, organic and conventional foods at great values,” said Herb Ruetsch, Chief Executive Officer of Fairway Market. “We are also eager to make an impact in the Hudson Yards community as a great neighbor as well. We are always committed to helping organizations that make a difference.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased to $-2.11 in the quarter versus EPS of $-0.09 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0 to a loss $0.03. For the current year, the average estimate has moved up from a loss of $0 to a profit of $0.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)