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The Container Store Group (TCS) Tops Q3 EPS by 9c, Revenues Beat; Offers 4Q & FY21 EPS Guidance Above Consensus

February 2, 2021 4:15 PM

The Container Store Group (NYSE: TCS) reported Q3 EPS of $0.42, $0.09 better than the analyst estimate of $0.33. Revenue for the quarter came in at $275.5 million versus the consensus estimate of $262.16 million.

Melissa Reiff, Chairwoman commented, “Our third quarter results meaningfully exceeded our original expectations. The strong customer demand we saw in the second quarter persisted into the third quarter, and our entire organization continued to make significant strides against our strategic priorities positioning us extremely well to capitalize on our business opportunities. Our Custom Closets business significantly accelerated in the third quarter as compared to the second quarter and, combined with strong performance from our other product categories, drove our record-breaking sales.”

Ms. Reiff continued, “I am very proud of our teams and the accomplishments we have made the last several years, and specifically these past 11 months. With our business firing on all cylinders both financially and operationally, and the strength of our performance quarter-to-date, we are very confident we will end our fiscal year with strong momentum.

This is the ideal time for our previously announced leadership transition of my CEO and President responsibilities to Satish Malhotra, which occurred yesterday. Satish and I will ensure a smooth transition until my retirement March 1, 2021. And as we look ahead, I am confident that our business is well-positioned to continue to drive results into our next chapter of growth.”

GUIDANCE:

The Container Store Group sees Q4 2020 EPS of $0.52-$0.57, versus the consensus of $0.42.

The Container Store Group sees FY2020 EPS of $1.05-$1.10, versus the consensus of $0.85.

For earnings history and earnings-related data on The Container Store Group (TCS) click here.

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