On Nov. 9, department-store operator J.C. Penney (NYSE:JCP) released Q3 2006 earnings for the period ended Oct. 28. Here are the quick-and-dirty details for the quarter.
- Sales grew 6.7% to $4.8 billion for the quarter, while same-store sales advanced an impressive 5.2%. Internet sales also advanced a nice 27%.
- Operating profit grew 24.1% to $504 million, while earnings per share advanced 34% as the company repurchased its shares.
- For the fourth quarter, management expects diluted earnings of $0.94, while for full-year 2006 it is projecting diluted earnings "in the area of $4.82."
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q3 2006 |
Q3 2005 |
Change | |
|---|---|---|---|---|
|
Sales |
$4,750 |
$4,781 |
$4,479 |
6.7% |
|
Net Profit |
-- |
$286 |
$234 |
22.2% |
|
EPS |
$1.22 |
$1.26 |
$0.94 |
34% |
|
Diluted Shares |
-- |
228 |
249 |
(8.4%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
42.6% |
41.8% |
0.8 |
|
Operating Margin |
10.5% |
9.1% |
1.4 |
|
Net Margin |
6.00% |
5.2% |
0.8 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$1,976 |
$2,044 |
(3.3%) |
|
Accounts Rec. |
$0 |
$0 |
N/A |
|
Inventory |
$4,275 |
$4,229 |
1.1% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$3,145 |
$3,079 |
2.1% |
|
Long-Term Debt |
$3,112 |
$3,454 |
(9.9%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
|
Q3 2006 |
Q3 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$253 |
$176 |
$77 |
|
Capital Expenditures |
$560 |
$395 |
$165 |
|
Free Cash Flow |
($307) |
($219) |
($88) |
Find out why Fools always follow the money.
Related Companies:
- Dillard's (NYSE:DDS)
- Sears Holdings (NASDAQ:SHLD)
- Kohl's (NYSE:KSS)
- Saks (NYSE:SKS)
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Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to further discuss any companies mentioned. The Fool has an ironclad disclosure policy.
