Michael Kors Holdings Earnings: Here’s Why the Stock is Rocketing Up 12% Now

Michael Kors Holdings (NYSE:KORS) 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 12%.

Michael Kors Holdings Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 30.61% to $0.64 in the quarter versus EPS of $0.20 in the year-earlier quarter.

Revenue: Decreased 0% to $636.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Michael Kors Holdings reported adjusted EPS income of $0.64 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $540.3 million.

Quoting Management: John D. Idol, the Company’s Chairman and Chief Executive Officer, said, “Our strong third quarter performance reflects sustained brand momentum as the global recognition and appeal for the Michael Kors luxury brand continued to expand. Moreover, we were extremely pleased with the holiday season as Michael Kors’ brand strength, innovative fashion design and jet-set in-store experience drove strong sales and earnings.”

Key Stats (on next page)…

Revenue increased 19.49% from $532.94 million in the previous quarter. EPS increased 30.61% from $0.49 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 $0.31 to a profit $0.32. For the current year, the average estimate has moved up from a profit of $1.51 to a profit of $1.56 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)