Vera Bradley, Inc. (VRA) Stock Spikes Then Falls on Q2 Earnings
Vera Bradley, Inc. (NASDAQ:VRA) stock rose then fell on Wednesday following the release of its fiscal second quarter of 2018 earnings report.
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During its fiscal second quarter of 2018, Vera Bradley, Inc. reported earnings per share of 13 cents. This is down from its earnings per share of 14 cents from the same time last year. However, it did come in above Wall Street’s earnings per share estimate of 10 cents for the quarter.
Vera Bradley, Inc. also reported revenue $112.42 million during its fiscal second quarter of 2018. This is a decrease from its revenue of $119.23 million in its fiscal second quarter of 2017. Analysts were expecting VRA to report revenue of $111.72 million for the quarter.
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Operating income reported by Vera Bradley, Inc. in its fiscal second quarter of 2018 was $3.71 million. This is a drop from its operating income of $8.30 million from the same period of the year prior.
Vera Bradley, Inc. reported net income of $2.19 million in its fiscal second quarter of 2018. The designer of women’s accessories reported net income of $5.11 million in its fiscal second quarter of the previous year.
Vera Bradley, Inc. also provided its outlook for the fiscal third quarter of 2018. It is expecting earnings per share to range from 13 cents to 15 cents with revenue coming between $112 million to $117 million. This isn’t good for VRA stock as Wall Street is looking for earnings per share of 17 cents on revenue of $119.86 million.
For the fiscal year of 2018, Vera Bradley, Inc. is expecting earnings per share to come between 44 cents and 50 cents with revenue ranging from $460 million to $470 million. Analysts are estimating earnings per share of 44 cents on revenue of $463.51 million for the year.
VRA stock was down 8% as of Wednesday morning and is down 21% year-to-date.
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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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