Kirkland’s earnings: The KIRK share decreases 6% after hours after a mixed quarter

<p>Kirkland’s (NASDAQ: KIRK) earnings report for the company’s fiscal fourth quarter 2019 saw the KIRK share on Friday … before returning to Earth in aftermarket trading. This comes after reporting adjusted earnings per share of 59 cents on revenue of $ 209.41 million. These are mixed results alongside Wall Street‘s estimates of 67 cents per share and revenue of $ 190.7 million.

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Here’s what’s worth pointing out from Kirkland’s latest earnings report.

Adjusted earnings per share of 59 cents decreased from 97 cents during the same period last year. Revenue for the quarter was 3.12% lower than the $ 216.15 million reported in the fourth quarter of 2018. Operating profit of – $ 5.21 million is a negative change compared to the previous year from an operating profit of $ 19.08 million .

Woody Woodward, CEO of Kirkland’s, said the following about the KIRK share performance report.

“We achieved a lot in 2019 to develop our range of goods and improve the experience of all channels. We are encouraged that some of the hard work began to pick up speed during the fourth quarter, with strong e-commerce growth and better revenues in segments of the range, including furniture and table tops. ”

Kirkland’s results report does not contain specific details for the 2020 guidance. Still, we know what Wall Street expects. This includes adjusted losses per share of 74 cents on revenue of $ 540.81 million.

The KIRK share fell by 6.6% from the aftermath on Friday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/kirklands-earnings-send-krik-stock-soaring/.

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