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G-III Apparel Group Q1 Earnings Beat Estimates

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G-III Apparel Group (NASDAQ: GIII) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of a loss of $0.05 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 340%. A quarter ago, it was expected that this clothing and accessories maker would post earnings of $0.67 per share when it actually produced earnings of $0.76, delivering a surprise of 13.43%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

G-III Apparel, which belongs to the Zacks Textile – Apparel industry, posted revenues of $609.75 million for the quarter ended April 2024, missing the Zacks Consensus Estimate by 0.87%. This compares to year-ago revenues of $606.59 million. The company has topped consensus revenue estimates just once 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.

G-III Apparel shares …

Full story available on Benzinga.com

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