Pep Boys – Manny Moe & Jack Earnings: Here’s Why Investors are Not Happy Now
Pep Boys – Manny, Moe & Jack (NYSE:PBY) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.55%.
Pep Boys – Manny, Moe & Jack Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 75% to $0.07 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 2.21% to $536.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pep Boys – Manny, Moe & Jack reported adjusted EPS income of $0.07 per share. By that measure, the company missed the mean analyst estimate of $0.09. It beat the average revenue estimate of $532.83 million.
Quoting Management: “Our revenue performance continues to improve,” said President and CEO, Mike Odell. “All of our service business categories experienced positive sales comps, with the exception of tires. While not quite positive yet, tire sales comps are improving and we are capturing more margin dollars from each tire sold. During the first month of our second quarter, our positive comparable store sales trend has continued.”
Key Stats (on next page)…