Sears Holdings (SHLD) Reports Q4 EPS of $1.69

Sears Holdings (NASDAQ: SHLD) reported Q4 EPS of $1.69, may not compare to the analyst estimate of $1.16. Total revenue for the quarter came in at $4.38 million, may not compare to the consensus estimate of $3.86 million.

Financial Position

At February 3, 2018, we had utilized approximately $648 million of our $1.5 billion revolving credit facility due in 2020, consisting of $271 million of borrowings and $377 million of letters of credit outstanding. The amount available to borrow under our credit facility was approximately $69 million, which reflects the effect of our springing fixed charge coverage ratio covenant and the borrowing base limitation in our revolving credit facility, which varies based on our overall inventory and receivables balances. Availability under our general debt basket was approximately $102 million at February 3, 2018.

The Company’s total cash balances were $336 million at February 3, 2018, including restricted cash of $154 million, compared to $286 million at January 28, 2017. Short-term borrowings totaled $915 million at February 3, 2018, consisting of $271 million of revolver borrowings, $500 million of line of credit loans, and $144 million of borrowings under the incremental real estate loan.

Merchandise inventories at February 3, 2018 were $2.8 billion, compared to $4.0 billion at January 28, 2017, while merchandise payables were $0.6 billion and $1.0 billion at February 3, 2018 and January 28, 2017, respectively.

Total long-term debt (long-term debt and capital lease obligations) was $3.2 billion and $4.2 billion at February 3, 2018 and January 28, 2017, respectively.

For earnings history and earnings-related data on Sears Holdings (SHLD) click here.

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