Express (EXPR) Reports In-Line Q4 EPS, Comps Declined 13%, Offers Q1 & FY Guidance
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(Updated - March 8, 2017 6:49 AM EST. Update adds FY Guidance)
Express (NYSE: EXPR) reported Q4 EPS of $0.29, in-line with the analyst estimate of $0.29. Revenue for the quarter came in at $678.8 million versus the consensus estimate of $676.8 million.
Comparable sales (including e-commerce sales) decreased 13%, compared to a 4% increase in the fourth quarter of 2015.
2017 Guidance:
The table below compares the Company's projected results for the thirteen week period ended April 29, 2017 to the actual results for the thirteen week period ended April 30, 2016.
| First Quarter 2017 Guidance | First Quarter 2016 Actual Results | |||
| Comparable Sales | Negative high single digits | (3)% | ||
| Effective Tax Rate | Approximately 39% | 38.0% | ||
| Interest Expense, Net | $1 million | $11.7 million(1) | ||
| Net Income | ($3) to $0 million | $12.9 million(1) | ||
| Adjusted Net Income | N/A | $19.8 million(2) | ||
| Diluted Earnings Per Share (EPS) | ($0.04) to $0.00 | $0.16(1) | ||
| Adjusted Diluted EPS | N/A | $0.25(2) |
(Street sees Q1 EPS of 15c)
| Full Year 2017 Guidance | Full Year 2016 Actual Results | |||
| Comparable Sales | Flat to low single digits | (9)% | ||
| Effective Tax Rate | Approximately 39% | 36.6% | ||
| Interest Expense, Net | $4 million | $13.5 million(1) | ||
| Net Income | $52 to $58 million | $57.4 million | ||
Adjusted Net Income | N/A | $64.3 million(2) | ||
| Diluted EPS | $0.65 to $0.73 | $0.73(1) | ||
| Adjusted Diluted EPS | N/A | $0.81(2) | ||
| Weighted Average Diluted Shares Outstanding | 79.4 million | 79.0 million | ||
| Capital Expenditures | $62 to $67 million | $98.7 million |
(Street sees FY EPS of 87c)
For earnings history and earnings-related data on Express (EXPR) click here.
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