Yahoo Finance Earnings To Watch: Carter's (CRI) Reports Q2 Results Tomorrow
Children’s apparel manufacturer Carter’s (NYSE:CRI) will be announcing earnings results tomorrow morning. Here's what investors should know.
Carter's beat analysts' revenue expectations by 3.3% last quarter, reporting revenues of $661.5 million, down 4.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' earnings estimates but underwhelming earnings guidance for the next quarter.
Is Carter's a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Carter's revenue to decline 5.3% year on year to $568.2 million, improving from the 14.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carter's has missed Wall Street's revenue estimates four times over the last two years.
Looking at Carter's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 7.8%, meeting analysts' expectations, and Churchill Downs reported revenues up 15.9%, topping estimates by 3.7%. Levi's traded down 15.7% following the results.
Read our full analysis of Levi's results here and Churchill Downs's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6.5% on average over the last month. Carter's is down 6.6% during the same time and is heading into earnings with an average analyst price target of $69 (compared to the current share price of $59.29).
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