UPDATE: Pier 1 Imports (PIR) Tops Q2 EPS by 1c, Comps Increase 1.6%; FY EPS Guidance Comes in Light
Tweet
Share
E-mail
Get Alerts PIR Hot Sheet
Financial Fact:
Income tax provision: -2.83M
Today's EPS Names:
OCCI, MAYS, CRMT, More
Join SI Premium – FREE
(Updated - September 27, 2017 4:19 PM EDT)
Pier 1 Imports (NYSE: PIR) reported Q2 EPS of ($0.05), $0.01 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $407.6 million versus the consensus estimate of $406.82 million.
Company comparable sales increased 1.8%
The Company updated its full year financial outlook to reflect the anticipated impact of hurricanes Harvey and Irma on its third quarter fiscal 2018 financial results. Fiscal 2018 fourth quarter and full year financial guidance is being provided on a 14-week and 53-week basis, respectively, with the exception of company comparable sales growth, which is being provided on a 13-week and 52-week basis.
| Guidance Metric | Third Quarter | Fourth Quarter | Full Year Fiscal 2018 | ||||||
| · Comparable sales growth (%): | (2%) to Flat | Flat to 2% | (1%) to 1% | ||||||
| · Net sales growth (%): | (3%) to (1%) | 5% to 7% | Flat to 2% | ||||||
| · Merchandise margin (% of net sales): | Approximately 59% | Approximately 56% | Approximately 57.5% | ||||||
| · SG&A expenses: | $150 million to $155 million | $150 million to $155 million | Approximately 31.5% of net sales | ||||||
| · Marketing spend (% of net sales): | Approximately 6% of net sales | ||||||||
| · Depreciation: | Approximately $54 million | ||||||||
| · Effective tax rate: | Approximately 41% | ||||||||
| · Earnings per share (GAAP): | $0.08 to $0.14 | $0.34 to $0.44 | $0.31 to $0.41 | ||||||
| · Adjusted earnings per share (non-GAAP): | $0.36 to $0.46 | $0.38 to $0.48 | |||||||
| · Fully diluted share count: | Approximately 80.3 million shares | ||||||||
| · Capital expenditures: | Approximately $55 million |
(Street sees FY EPS of $0.47)
For earnings history and earnings-related data on Pier 1 Imports (PIR) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- AeroVironment restates quarterly financials, citing $89M goodwill error
- Dutch Bros Inc. (BROS) PT Raised to $90 at DA Davidson on Sales/Earnings Upside
- Incyte settles CMS lawsuit over Opzelura Medicaid rebate rules
Create E-mail Alert Related Categories
Earnings, Guidance, Retail SalesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
