Finish Line (FINL) Tops Q2 EPS by 1c, Comps Decline 4.5%, Offers Outlook

Finish Line (NASDAQ: FINL) reported Q2 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $469.4 million versus the consensus estimate of $470.51 million.

Finish Line comparable store sales decreased 4.5%.

Outlook

The company’s outlook remains unchanged from the update given August 28, 2017 which is Finish Line comparable sales to decrease 3% to 5% versus its previous guidance for an increase in the low-single digit range. Adjusted earnings per share are now expected to be in the range of $0.50 to $0.60 for the 53-week fiscal year ending March 3, 2018, versus the previous guidance range of $1.12 to $1.23, and compared with adjusted earnings per share of $1.06 for the fiscal year ended February 25, 2017, which was a 52-week year. The company estimates that the additional week will contribute approximately $0.06 per share to fourth quarter and full year fiscal 2018 results.

(Street sees FY EPS of $0.57)

For the third quarter ending November 25, 2017, the company expects Finish Line comparable sales to decrease 3% to 5% and adjusted loss per share to be in the range of ($0.32) to ($0.40), compared with an adjusted loss per share of ($0.24) for the same period last year.

(Street sees Q3 EPS of ($0.35))

For the fourth quarter ending March 3, 2018, a 14-week quarter, the company expects Finish Line comparable sales to decrease 3% to 5% and adjusted earnings per share to be in the range of $0.50 to $0.58 inclusive of the $0.06 per share contribution from the extra week, compared with earnings per share of $0.50 for the fourth quarter ended February 25, 2017, a 13-week quarter.

For earnings history and earnings-related data on Finish Line (FINL) click here.

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