G-III Apparel Group Earnings: Everything You Must Know Now
G-III Apparel Group, Ltd. (NASDAQ:GIII) 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.
G-III Apparel Group, Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 30.77% to $0.17 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 20.94% to $304.15 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: G-III Apparel Group, Ltd. reported adjusted EPS income of $0.17 per share. By that measure, the company beat the mean analyst estimate of $0.10. It beat the average revenue estimate of $287.88 million.
Quoting Management: Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “We had an excellent second quarter. The results were driven by broad-based strength across many categories and brands in our portfolio. We believe that we are executing particularly well in a number of key areas, including design and merchandising, which positions us to deliver strong performance for the remainder of the year.”
Key Stats (on next page)…
Revenue increased 11.57% from $272.62 million in the previous quarter. EPS increased 240% from $0.05 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $2.67 and has not changed. For the current year, the average estimate is a profit of $3.30, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)