Movado Group Q3 Adj EPS $0.78 Beats $0.75 Estimate, Sales $187.69M Miss $194.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Movado Group, Inc. (NYSE:MOV) reported Q3 adjusted earnings per share (EPS) of $0.78, surpassing the consensus estimate of $0.75 by 4%. However, this represents a 40.46% decrease from the $1.31 EPS reported in the same quarter last year. The company's quarterly sales were $187.69 million, falling short of the $194.00 million estimate by 3.25% and marking an 11.22% decline from the $211.40 million sales reported in the same period last year.
November 30, 2023 | 11:46 am
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Movado Group's Q3 earnings beat estimates but showed a significant year-over-year decline, while sales missed expectations and also decreased compared to last year.
Despite beating EPS estimates, the significant year-over-year decline in both earnings and sales is likely to be viewed negatively by investors, potentially leading to a short-term decrease in stock price.
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