Yahoo Finance Genesco's (GCO) Q1 Earnings Coming Up: What's in the Cards?
Genesco Inc. GCO is likely to register a decline in both the top and the bottom lines from the respective prior-year quarter’s reported numbers in its first-quarter fiscal 2024 results on May 25, before the opening bell.
The Zacks Consensus Estimate for revenues is pegged at $484 million, indicating a 7.1% decrease from the year-ago fiscal quarter’s reported figure. Further, the consensus estimate for quarterly earnings has been stable in the past 30 days at a loss of $1.04 per share. The figure compares unfavorably with earnings of 44 cents per share in the year-earlier quarter.
GCO delivered an earnings surprise of 1.3% in the last reported quarter. This specialty retailer of consumer products has a trailing four-quarter earnings surprise of 180.6%, on average.
Key Aspects to Note
Genesco’s quarterly performance is likely to have been affected by a challenging operating environment including higher promotional activity and inflationary pressures. Also, any deleverage in SG&A expenses and stiff competition remain headwinds.
On its last earnings call, management cited that it expects additional pressure on sales this fiscal year, mainly in the first half. Also, it cited that it expects cost pressures to persist.
On a positive note, management has been making actions to enhance the customer experience and reduce costs to drive overall growth. In addition, resiliency in the company’s footwear-focused strategy and gains from the multi-channel operating model are tailwinds. The company has been experiencing record top-line results at Schuh and Johnston & Murphy brands for a while now. These factors are likely to have provided some cushion to the company’s performance in the quarter under review.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Genesco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat which is not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Genesco Inc. Price and EPS Surprise
Genesco Inc. price-eps-surprise | Genesco Inc. Quote
Genesco has an Earnings ESP of 0.00% and a Zacks Rank of 3, at present.
Stocks Poised to Beat Earnings Estimates
Here are a few companies, which according to our model, have the right combination of elements to come up with an earnings beat this reporting cycle:
American Eagle Outfitters AEO currently has an Earnings ESP of +9.81% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is expected to report bottom-line growth when it releases fiscal first-quarter 2023 results. The Zacks Consensus Estimate for earnings stands at 17 cents per share, indicating an increase of 6.3% from the year-ago quarter’s level.
The company’s revenues are anticipated to rise year over year. The consensus mark for the same is pegged at $1.06 billion, implying a 0.8% improvement from that reported in the prior-year period.
Casey's General Stores CASY currently has an Earnings ESP of +0.05% and a Zacks Rank of 2. The company is expected to register bottom-line growth when it reports fiscal fourth-quarter 2023 results. The Zacks Consensus Estimate for earnings is pinned at $1.61 per share, indicating a rise of 0.6% from the year-ago quarter’s number.
The company’s revenues are anticipated to decrease year over year. The consensus mark for the same stands at $3.42 billion, indicating a deterioration of 1.2% from that reported in the year-ago quarter. CASY has a trailing four-quarter average earnings surprise of 9.9%.
lululemon athletica LULU currently has an Earnings ESP of +1.97% and a Zacks Rank of 3. LULU is likely to record top-line growth when it reports fiscal first-quarter 2023 results.
The Zacks Consensus Estimate for revenues is pegged at $1.9 billion, indicating a 19.5% improvement from the prior-year quarter’s reported actual. The consensus mark for earnings stands at $1.93 per share, implying a 30.4% increase from that reported in the comparable period of 2022. LULU has a trailing four-quarter earnings surprise of 6.8%, on average.
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American Eagle Outfitters, Inc. (AEO) : Free Stock Analysis Report
lululemon athletica inc. (LULU) : Free Stock Analysis Report
Genesco Inc. (GCO) : Free Stock Analysis Report
Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
