Tiffany & Co. Earnings: Here’s Why Shares are Up Now
Tiffany & Co. (NYSE:TIF) delivered a profit and beat Wall Street’s expectations, BUT 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 1.04%.
Tiffany & Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.28% to $0.83 in the quarter versus EPS of $0.72 in the year-earlier quarter.
Revenue: Rose 4.45% to $926 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tiffany & Co. reported adjusted EPS income of $0.83 per share. By that measure, the company beat the mean analyst estimate of $0.74. It missed the average revenue estimate of $941.37 million.
Quoting Management: Michael J. Kowalski, chairman and chief executive officer, said, “Total sales growth met our objective due to solid performance in most regions, and with particular strength in our statement and fine jewelry product categories. We were pleased with the results of our efforts to improve gross margin which, combined with well-controlled expenses, yielded a solid increase in operating margin.”
Key Stats (on next page)…