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Children’s Place Earnings: PLCE Stock Plunges Despite Q1 Beat

William White

Children’s Place earnings for the first quarter of 2019 have PLCE stock falling on Wednesday.

Children's Place Earnings: PLCE Stock Plunges Despite Q1 Beat

Source: Mike Mozart via Flickr

Children’s Place (NASDAQ:PLCE) reported earnings per share of 36 cents for the first quarter of the year. This is a major drop from the company’s earnings per share of $1.87 cents from the first quarter of 2018. However, it does still beat Wall Street’s losses per share estimate of 49 cents for the period, but couldn’t stop PLCE stock from falling.

Net income reported in the Children’s Place earnings release for the first quarter of 2019 comes in at $4.49 million. This is down from the company’s net income of $31.54 million reported in the same period of the year prior.

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The Children’s Place earnings report for the first quarter of the year also has operating income coming in at $5.04 million. Operating income reported by the retail company in the first quarter of the previous year was $23.06 million.

Children’s Place earnings for the first quarter of 2019 also include revenue of $412.38 million. This is a decrease from the company’s revenue of $436.31 million reported during the same time last year. It also comes in above analysts’ revenue estimate of $399.10 million for the quarter, but wasn’t stopping the fall of PLCE stock today.

Children’s Place also announced a quarterly dividend today. The company will be paying out a dividend of 56 cents per share to investors in PLCE stock. This dividend will be payable on June 28, 2019 to shareholders on record as of June 18, 2019.

PLCE stock was down 6% as of noon Wednesday.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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