Guess Q3 Adj $0.49 Misses $0.62 Estimate, Sales $651.00M Miss $656.03M Estimate
Portfolio Pulse from Benzinga Newsdesk
Guess Inc. (NYSE: GES) reported Q3 adjusted earnings of $0.49 per share, missing the consensus estimate of $0.62 by 20.97%. Quarterly sales were $651.00M, slightly below the expected $656.03M. Despite the miss, both earnings and sales showed an increase from the same period last year, with earnings up 11.36% and sales up 2.78%.
November 21, 2023 | 9:16 pm
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Guess Inc. reported lower-than-expected Q3 earnings and sales, which could lead to negative investor sentiment and a potential short-term decline in stock price.
Missing both earnings and sales estimates typically results in negative market reactions, as it suggests the company is not performing up to market expectations. However, the year-over-year growth in earnings and sales may mitigate some negative sentiment.
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