Tiffany & Co. (NYSE:TIF) 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 5.63%.
Tiffany & Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.37% to $0.7 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 9.32% to $895.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tiffany & Co. reported adjusted EPS income of $0.7 per share. By that measure, the company beat the mean analyst estimate of $0.52. It beat the average revenue estimate of $855.14 million.
Quoting Management: Michael J. Kowalski, chairman and chief executive officer, said, “We are pleased with this start to the year. Worldwide, first quarter sales exceeded our expectations, enabling us to improve our sales leverage on fixed expenses and achieve earnings growth. In addition, we celebrated Tiffany’s 175th anniversary with our very successful Blue Book event and promotional activities surrounding the debut of the film The Great Gatsby, for which we designed the jewelry.”
Key Stats (on next page)…
Revenue decreased 27.54% from $1.24 billion in the previous quarter. EPS decreased 50% from $1.40 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 $0.76 to a profit $0.79. For the current year, the average estimate has moved down from a profit of $3.51 to a profit of $3.48 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)