Finish Line (FINL) Tops Q3 EPS by 10c, Beats on Revenues; Boosts FY18 EPS Guidance Above Consensus

Finish Line (NASDAQ: FINL) reported Q3 EPS of ($0.26), $0.10 better than the analyst estimate of ($0.36). Revenue for the quarter came in at $378.5 million versus the consensus estimate of $360.95 million.

Outlook

The company’s outlook is Finish Line comparable sales to decrease 2% to 3% and adjusted earnings per share to be in the range of $0.59 to $0.67 for the 53-week fiscal year ending March 3, 2018 due to the third quarter out-performance, versus the previous guidance range of $0.50 to $0.60, 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.

For the fourth quarter ending March 3, 2018, a 14-week quarter, the company still 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.

GUIDANCE:

Finish Line sees FY2018 EPS of $0.59-$0.67, versus the consensus of $0.53.

For the thirteen weeks ended November 25, 2017:

• Consolidated net sales were $378.5 million, an increase of 1.8% over the prior year period.
• Finish Line comparable store sales increased 0.8%.
• Finish Line Macy’s sales increased 2.3%.
• On a GAAP basis, diluted earnings per share from continuing operations were ($0.32).
• Non-GAAP diluted earnings per share from continuing operations, which primarily excludes the impact from store impairment charges, were ($0.26).

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

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