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Quiksilver Inc. (NYSE:ZQK) 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 down 7.63%.
Quiksilver Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.16 in the quarter versus EPS of $-0.13 in the year-earlier quarter.
Revenue: Decreased 4.14% to $431 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Quiksilver Inc. reported adjusted EPS loss of $0.16 per share. By that measure, the company missed the mean analyst estimate of $-0.07. It missed the average revenue estimate of $465 million.
Quoting Management: “During the first quarter, we took a number of steps supporting our three core strategies of strengthening our brands, increasing sales and driving operating efficiencies,” said Andy Mooney, President and Chief Executive Officer of Quiksilver, Inc. “We are revising our global organizational structure and transitioning toward global core processes led by experienced senior executives. We appointed heads of global supply chain, global footwear design and global apparel design, and we are actively recruiting a chief marketing officer. In addition, we made decisions to better focus the product line breadth of our three core global brands. We believe these actions will help lay the foundation for improved operating results.”
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