Nordstrom stock trends down despite Q3 earnings beat, 2022 revenue outlook
Yahoo Finance Live breaks down the latest earnings report from Nordstrom.
Video Transcript
- All right, Dave, we got Nordstrom crossing the wires right now. You can see the stock off just about 1%, an interesting move there, given the results that we're getting here from Nordstrom. It's actually a beat on both the top and bottom line, adjusted EPS coming in at $0.20. The estimate was for $0.13, total revenue 3.55 billion. The estimate out there was for 3.51 billion, Nordstrom also saying that it is on pace to achieve 2022 revenue and adjusted earnings outlook for the year.
And to tell you what that is, Nordstrom still sees a full year adjusted EPS of $2.30 to $2.60. The estimate out there from The Street was for $2.37. It still also sees full year revenue growth of 5% to 7%, Nordstrom backing its guidance of that revenue growth for full year 2022. So again, it beat on both the top and bottom line. It looks like some of that, though, has already been factored into the stock price, as you can see shares off just about 3 and 1/2 percent after hours.
