Macy's Q3 Adjusted EPS $0.21 May Not Be Comparable To $0.02 Estimate, Sales $4.86B Beat $4.79B Estimate
Portfolio Pulse from Benzinga Newsdesk
Macy's (NYSE:M) reported Q3 adjusted EPS of $0.21, surpassing the $0.02 estimate by 950%, but marking a 59.62% decrease from last year's $0.52. Sales reached $4.86B, exceeding the $4.79B estimate by 1.48%, yet down 7.07% from the previous year's $5.23B.
November 16, 2023 | 11:57 am
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Macy's Q3 earnings outperformed estimates with an EPS of $0.21, significantly higher than the expected $0.02, and sales of $4.86B beating the $4.79B forecast. However, both figures represent a decline from the previous year.
The substantial beat on both EPS and sales estimates is likely to be viewed positively by investors, potentially leading to a short-term uptick in Macy's stock price. However, the year-over-year declines in both earnings and sales may temper investor enthusiasm, suggesting a more moderate impact.
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