Guess?, Inc. (NYSE: GES) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced its earnings for the second quarter, beating expectations on all accounts and exciting investors. Of course, the reaction among investors was to send the stock toward the top. Today, we’ll talk about:
- The earnings report;
- what we’re seeing from GES stock as a result; and
- what we’ll be watching for ahead.
GES Heads For The Top On Earnings
As mentioned above, Guess? is having an incredibly strong start to the trading session this morning after the company announced its financial results for the second quarter. Here’s what we saw from the report:
- Revenue – In terms of revenue, GES did overwhelmingly well. During the quarter, the company generated revenue in the amount of $645.87 million. That proved to be a 13.7% rise over the revenue generated in the same quarter last year.
- Earnings – When it comes to earnings, the news was just as positive. During the second quarter, analysts expected that the company would generate adjusted earnings in the amount of $0.33 per share. However, the company actually reported earnings in the amount of $0.36 per share, beating expectations.
- Guidance – Finally, the company said that it is expecting for earnings to come in between $0.12 per share and $0.15 per share in the third quarter. On a full year basis, GES said that it is expecting to report earnings in the range between $0.94 per share and $1.03 per share.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Guess?, the news proved to be overwhelmingly positive. After all, investor excitement generally hits when an earnings report surpasses expectations, and that’s exactly what we saw. So, it comes as no surprise to see that excited investors are sending the stock on a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:05), GES is trading at $24.50 per share after a gain of $1.56 per share or 6.80% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on GES. In particular, we’re interested in following the story surrounding the company’s continued growth as the second quarter proved to be overwhelmingly positive. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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