Pep Boys (PBY) Reports Q4 Loss of 50c/Share

Pep Boys (NYSE: PBY) reported Q4 EPS of ($0.50), may not compare to the analyst estimate of $0.03. Revenue for the quarter came in at $502.4 million versus the consensus estimate of $506.8 million.

Commentary“The fourth quarter was a time of transition for the Company,” said interim CEO John Sweetwood. “We continued to increase our sales in the growing service segment. Our investments in the high-growth areas of our business – commercial, tires, fleet and digital – increased revenue, but temporarily depressed margins. To date in the first quarter, we have generated higher sales and experienced recovering margins.”

John continued, “With only three weeks to go in the first quarter of 2015, we are seeing a turn around in the business. At this point comparable store sales are up with double-digit growth in commercial, fleet and digital. With margins recovering, combined with improved expense and inventory management, to date we are seeing an improvement in operating profit and cash flow.”

For earnings history and earnings-related data on Pep Boys (PBY) click here.

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