JCP Stock: 12 Highlights From Q3 JCPenney Earnings
The JCPenney earnings report for the third quarter of 2018 is out.
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Here are some things to know about the most recent JCPenney earnings report.
JCPenney’s (NYSE:JCP) losses per share for the third quarter of the year came in at 48 cents.
This is worse than the company’s losses per share of 40 cents from the same time last year.
Despite the drop, JCP’s losses per share did still come in above Wall Street’s estimate of 56 cents.
The JCPenney earnings report for the third quarter of 2018 also includes revenue of $2.73 billion.
This is down from the company’s revenue of $2.89 billion reported in the third quarter of the previous year.
It also wasn’t able to match analysts’ revenue estimate of $2.81 billion for the quarter.
JCP also reported a net loss of $151 million for the third quarter of 2018.
The company’s net loss from the same period of the year prior came in at $125 million.
Operating loss reported in the JCPenney earnings report for the third quarter of the year was $100 million.
This is a wider operating loss than the $78 million reported in the third quarter of 2017.
JCPenney also made an update to its guidance for 2018 by saying it now expects comparable stores sales to be down low-single digits.
The company notes that the guidance update comes from gaining a new CEO and a new interim CFO.
You can follow this link to learn more about the JCPenney earnings report for the third quarter of the year.
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JCP stock was up 2% as of noon Thursday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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