Children’s Place earnings for the fourth quarter of 2018 have PLCE stock falling hard on Monday.
Source: Mike Mozart via Flickr
Children’s Place (NASDAQ:PLCE) reported earnings per share of $1.10 for the fourth quarter of the year. This is a drop from the company’s earnings per share of $2.52 from the same time last year. It was also a major blow to PLCE stock by missing Wall Street’s earnings per share estimate of $2.12 for the period.
Net income reported in the Children’s Place earnings release for the fourth quarter of 2018 comes in at $12.02 million. This is better than the company’s net loss of $9.90 million reported in the fourth quarter of 2017.
The Children’s Place earnings report for the fourth quarter of the year also includes operating income of $13.64 million. The retailer of children’s clothes and accessories reported operating income of $51.86 million in the same period of the year prior.
Children’s Place earnings for the fourth quarter of 2018 also has revenue coming in at $530.56 million. This is down from the company’s revenue of $569.97 million reported in the fourth quarter of the previous year. It was also bad news for PLCE stock by coming in below analysts’ revenue estimate of $554.16 million for the quarter.
The most recent Children’s Place earnings report also includes its outlook for the full year of 2019. It is expecting earnings per share to range from $5.25 to $5.75 on revenue between $1.890 billion and $1.915 billion. That’s another strike against PLCE stock with Wall Street looking for earnings per share and revenue of $8.99 and $2.01 billion.
PLCE stock was down 12% as of Monday afternoon.
More From InvestorPlace
- 2 Toxic Pot Stocks You Should Avoid
- 5 Retail Stocks Ready to Break Out
- 7 Strong Buy Stocks the Street Loves
- 10 Best Stocks to Buy and Hold Forever
As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Children’s Place Earnings: PLCE Stock Tanks on Miss, Outlook appeared first on InvestorPlace.