J. C. Penney (NYSE: JCP ) reported earnings on Feb. 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 2 (Q4), J. C. Penney missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. Non-GAAP earnings per share dropped to a loss. GAAP loss per share expanded.
Margins dropped across the board.
J. C. Penney reported revenue of $3.88 billion. The 18 analysts polled by S&P Capital IQ expected revenue of $4.09 billion on the same basis. GAAP reported sales were 28% lower than the prior-year quarter's $5.43 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$1.95. The 10 earnings estimates compiled by S&P Capital IQ predicted -$0.17 per share. Non-GAAP EPS were -$1.95 for Q4 versus $0.74 per share for the prior-year quarter. GAAP EPS were -$2.51 for Q4 versus -$0.41 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 23.8%, 640 basis points worse than the prior-year quarter. Operating margin was -18.4%, much worse than the prior-year quarter. Net margin was -14.2%, much worse than the prior-year quarter.
Next quarter's average estimate for revenue is $2.95 billion. On the bottom line, the average EPS estimate is -$0.34.
Next year's average estimate for revenue is $13.09 billion. The average EPS estimate is -$0.45.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 655 members out of 991 rating the stock outperform, and 336 members rating it underperform. Among 257 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 168 give J. C. Penney a green thumbs-up, and 89 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on J. C. Penney is hold, with an average price target of $20.21.
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