Fossil Earnings: Here’s Why Shares are Up Now
Fossil, Inc. (NASDAQ:FOSL) 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. Shares are up 0.61%.
Fossil, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 77.34% to $2.27 in the quarter versus EPS of $1.87 in the year-earlier quarter.
Revenue: Rose 14.08% to $947.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fossil, Inc. reported adjusted EPS income of $2.27 per share. By that measure, the company beat the mean analyst estimate of $2.26. It beat the average revenue estimate of $930.43 million.
Quoting Management: Tory Burch, CEO of the Tory Burch Company, says, “I am thrilled to partner with Fossil, a leader in the watch industry that is aligned with our vision and business strategy. Expanding into timepieces will perfectly complement our accessories collection, an integral part of our brand DNA.”
Key Stats (on next page)…
Revenue increased 38.52% from $684.17 million in the previous quarter. EPS increased 77.34% from $1.28 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.01 to a profit $1.03. For the current year, the average estimate has moved down from a profit of $5.41 to a profit of $5.38 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)