Movado Group Earnings: Everything You Must Know Now
Movado Group Inc. (NYSE:MOV) 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.
Movado Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.69% to $0.28 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Rose 6.12% to $110 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Movado Group Inc. reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.22. It beat the average revenue estimate of $0.
Quoting Management: Efraim Grinberg, Chairman and Chief Executive Officer, stated, “We began the year strong, continuing our positive sales momentum from fiscal 2013 and delivering operating income growth of nearly 18%, validating our ability to leverage our infrastructure as we grow. In April, we introduced our new Ferrari watch collection and our repositioned Coach product line at Baselworld in Switzerland, and expect the enthusiastic response to each of our brands to lead to accelerated sales growth in the second quarter and throughout the year. We continue to see broad based strength across our business, with strong consumer demand and sell-through.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS decreased 31.71% from $0.41 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 profit of $0.35 to a profit $0.33. For the current year, the average estimate has moved down from a profit of $1.83 to a profit of $1.8 over the last ninety days.
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