<p>TJX Companies (NYSE: TJX) earnings report for the department store company’s fourth quarter 2019, the TJX share is higher on Wednesday. This is due to its diluted earnings per share (EPS) of 81 cents, which is well above the Wall Street estimate of 77 cents. Revenue of $ 12.21 billion also helps by surpassing analysts’ estimates of $ 11.83 billion.
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Let us now take a closer look at the latest earnings report from TJX companies.
Diluted EPS increased by 19.12% from 68 cents in the fourth quarter of 2018. Revenue for the quarter increased by 9.7% compared to $ 11.13 billion during the same period last year. The TJX company’s earnings report also includes net income of $ 984.8 million. This is an increase of 17.02% compared to the net profit of 841.54 million dollars which was reported during the same period last year.
Ernie Herrman, President and CEO of TJX Companies, said this about TJX share income:
“We are very pleased with our strong results for the fourth quarter, as both sales and earnings per share significantly exceeded our expectations. For the fourth quarter, comparable store sales increased by 6%, compared with 6% last year. ”
The TJX company’s earnings report also includes the outlook for the full year 2020. This expects diluted EPS from $ 2.77 to $ 2.83. By comparison, Wall Street is looking for diluted $ 2.87 earnings per share during the year.
The TJX share increased by 7% as of Wednesday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/the-tjx-companies-earnings-send-stock-soaring/.
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