Pep Boys – Manny Moe & Jack Earnings: Here’s Why Investors are Excited Now
Pep Boys – Manny, Moe & Jack (NYSE:PBY) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.93%.
Pep Boys – Manny, Moe & Jack Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.27 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 33.71% to $335 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pep Boys – Manny, Moe & Jack reported adjusted EPS loss of $0.27 per share. By that measure, the company missed the mean analyst estimate of $0.05. It missed the average revenue estimate of $507.08 million.
Quoting Management: “Our strategically important service maintenance and repair categories remain a bright spot in what was a disappointing year from a sales and profit perspective,” said President and CEO Mike Odell. “To date in the first quarter of 2013, comparable store sales trends have improved in both lines of business, with a low single-digit increase in service center revenue mostly offset by a low single-digit decline in retail sales.”
Key Stats (on next page)…