Shoe Carnival (NASDAQ:SCVL) reported its quarterly earnings results late on Tuesday, bringing in a profit that surpassed what Wall Street projected, while the company’s guidance for the current fiscal year are in line with expectations, playing a role in SCVL stock skyrocketing after hours.
The Evansville, Indiana-based company said that for its fourth quarter of its fiscal 2018, it amassed a net income of $1.4 million, or 9 cents per share. The figure was a considerable improvement over the company’s losses from its fourth quarter of 2017, which reached $3.9 million, or 24 cents per share.
On an adjusted basis when taking into account stock-based compensation and tax effects, as well as other items, Shoe Carnival’s profit was 11 cents per share. Wall Street said it predicted the shoe stores chain to bring in adjusted earnings of 6 cents per share, according to data compiled by FactSet.
The business added that its revenue for the period came in at $234 million, which is about $9.2 million below its sales from its fourth quarter of the year-ago period. Analysts saw Shoe Carnival as amassing revenue of $233 million for the last three months of 2018, per FactSet.
For its fiscal 2019 the business said it sees its earnings in the range of $2.60 to $2.70 per share, in line with the $2.66 per share that analysts predict. Sales are slated to come in at around $1.04 billion–the same amount Wall Street guides for.
SCVL stock is up a whopping 15.1% after the bell Tuesday. Shares had fallen 3% during regular trading.
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