Stein Mart Earnings: Everything You Must Know Now

Stein Mart Inc. (NASDAQ:SMRT) delivered a profit and met 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.

Stein Mart Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 300% to $0.08 in the quarter versus EPS of $0.02 in the year-earlier quarter.

Revenue: Rose 3.79% to $291 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Stein Mart Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company met the mean analyst estimate of $0.08. It missed the average revenue estimate of $295.53 million.

Quoting Management: “Our second quarter same store sales increase of 6.4 percent was driven by our great merchandise, brands and pricing” said Jay Stein, Chief Executive Officer. “We’ve said for a long while that increases in sales and margin will leverage against our lean expense structure resulting in higher earnings growth. This is now happening.”

Key Stats (on next page)…

Revenue decreased 9.45% from $321.36 million in the previous quarter. EPS decreased 75.76% from $0.33 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 loss of $0.05 to a loss $0.03. For the current year, the average estimate has moved up from a profit of $0.57 to a profit of $0.66 over the last ninety days.

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