Movado Group (MOV) Tops Q3 EPS by 6c, Reiterates FY19 Outlook

Movado Group (NYSE: MOV) reported Q3 EPS of $1.18, $0.06 better than the analyst estimate of $1.12. Revenue for the quarter came in at $209 million versus the consensus estimate of $205.4 million.

Fiscal 2019 Outlook

The Company is reiterating its outlook for fiscal 2019 which excludes integration and acquisition costs of MVMT and the amortization of acquisition accounting adjustments relating to the acquisition of Olivia Burton, as well as the tax benefit related to the 2017 Tax Act and certain discrete foreign tax items. For fiscal 2019, the Company continues to anticipate that net sales will be in the range of $660.0 million to $675.0 million and operating income will be approximately $75.0 million to $77.0 million. The Company continues to expect net income in fiscal 2019 to be in the range of approximately $58.0 million to $59.7 million, or $2.45 to $2.55 per diluted share, reflecting a 22.0% effective tax rate. The Company's outlook assumes no further significant fluctuations from prevailing foreign currency exchange rates.

(*Street sees FY EPS of $2.51 on revenue of $666.1 million).

For earnings history and earnings-related data on Movado Group (MOV) click here.

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