Target (TGT) Misses Q1 EPS by 88c, Offers Guidance for Q2 and FY22

May 18, 2022 6:31 AM EDT

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(Updated - May 18, 2022 6:35 AM EDT)

Target (NYSE: TGT) reported Q1 EPS of $2.19, $0.88 worse than the analyst estimate of $3.07. Revenue for the quarter came in at $24.83 billion versus the consensus estimate of $24.47 billion.

  • Comparable sales grew 3.3 percent, on top of 22.9 percent growth last year.

Fiscal 2022 Guidance:

  • For second quarter 2022, the Company expects its operating income margin rate will be in a wide range centered around first quarter's operating margin rate of 5.3 percent.
  • For full-year 2022, the Company continues to expect low- to mid- single digit revenue growth. The Company now expects its full-year operating income margin rate will be in a range centered around 6 percent.

For earnings history and earnings-related data on Target (TGT) click here.

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