Caleres Q3 Adj EPS $1.37 Beats $1.29 Estimate, Sales $761.90M Miss $773.84M Estimate
Portfolio Pulse from Benzinga Newsdesk
Caleres Inc. (NYSE:CAL) reported Q3 adjusted earnings per share (EPS) of $1.37, surpassing the analyst estimate of $1.29 by 6.2%. However, the company's sales for the quarter were $761.90 million, falling short of the expected $773.84 million by 1.54%. Compared to the same quarter last year, EPS increased by 19.13% from $1.15, while sales saw a 4.55% decline from $798.26 million.
November 21, 2023 | 11:51 am
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Caleres Inc. reported higher-than-expected Q3 EPS at $1.37 but missed revenue estimates with $761.90M. The EPS showed a significant year-over-year increase, while revenues declined compared to the same period last year.
The mixed results with an EPS beat but a sales miss could lead to a neutral short-term impact on Caleres' stock price. While the EPS beat is positive, the sales miss and year-over-year decline may raise concerns about growth, potentially balancing out investor sentiment.
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