At Home earnings for the first quarter of fiscal 2020 have HOME stock falling hard on Thursday.
At Home (NYSE:HOME) reported earnings per share of 3 cents for its first quarter of the fiscal year. This is a drop from the company’s earnings per share of 28 cents reported in the same period of the year prior. It was also a major blow to HOME stock by missing Wall Street’s earnings per share estimate of 4 cents for the quarter.
Net income reported in the At Home earnings release for its first quarter of fiscal 2020 comes in at $13.88 million. That’s down from the company’s net income of $18.36 million reported in its first quarter of fiscal 2019.
The At Home earnings report for its first quarter of the fiscal year also includes operating income of $25.89 million. This is an increase over the home decor retailer’s operating income of $24.20 million reported during the same time last year.
At Home earnings for its first quarter of fiscal 2020 has revenue coming in at $306.26 million. This is better than the company’s revenue of $256.16 million reported in its first quarter of the previous fiscal year. It also comes in above analysts’ revenue estimate of $303.27 million for the period, but couldn’t keep HOME stock from falling today.
The most recent At Home earnings report also includes an outlook for fiscal 2020 that isn’t helping HOME stock today. The company is expecting earnings per share ranging from 67 cents to 74 cents for the year. It also expects revenue between $1.37 billion to $1.39 billion for fiscal 2020. Wall Street is looking for earnings per share of $1.03 on revenue of $1.40 billion for the year.
HOME stock was down 47% as of Thursday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
Article printed from InvestorPlace Media, https://investorplace.com/2019/06/at-home-earnings-hit-stock-hard/.
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