Tailored Brands (NYSE:TLRD) reported its latest earnings results late in the day Wednesday, unveiling figures that were ahead of what analysts were calling for, but TLRD stock still took a major hit on the day.
The retailer for men’s apparel stores said that for its third quarter of fiscal 2018, it brought in net income of $13.9 million, or 27 cents per share. In the year-ago quarter, the company brought in net income of $36.9 million, or 75 cents per share.
On an adjusted basis when excluding one-time items, Tailored Brands brought in earnings of $51.4 million, or 1.01 per share, ahead of the $36.9 million from its third quarter of fiscal 2017. Analysts were calling for the company to amass adjusted and GAAP earnings of 94 cents per share, according to FactSet.
The company also brought in revenue of $813 million, marking a 0.2% improvement over the $811 million from the year-ago quarter. Tailored Brand’s revenue total failed to meet the $819 million that analysts were calling for in the Wall Street consensus estimate, according to data compiled by FactSet.
The retailer said that it projects that it will bring in earnings in the range of $2.30 and $2.35 for the year, below its previous guidance of $2.35 to $2.50 per share. Tailored Brands also say its comparable sales decline “due to lower transactions at Men’s Wearhouse.”
TLRD stock gained about 1.5% during the day on Wednesday as the company readied itself to release its latest figures. Following the earnings beat, the stock still declined about 26.5% after the bell on the day.
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