Macy’s Surpasses Q1 Earnings and Revenue Estimates
Macy’s (NYSE: M) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this department store operator would post earnings of $2.02 per share when it actually produced earnings of $2.45, delivering a surprise of 21.29%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Macy’s, which belongs to the Zacks Retail – Regional Department Stores industry, posted revenues of $4.85 billion for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 0.21%. This compares to year-ago revenues of $4.98 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Macy’s shares have lost about …
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