Macy’s (NYSE:M) reported its Q2 earnings results on Tuesday, August 23, 2022 at 06:55 AM.
Here’s what investors need to know about the announcement.
Earnings
Macy’s beat estimated earnings by 17.65%, reporting an EPS of $1.0 versus an estimate of $0.85.
Revenue was down $47.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.26 which was followed by a 2.27% increase in the share price the next day.
Here’s a look at Macy’s’s past performance:
| Quarter | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.82 | 1.96 | 0.31 | 0.14 |
| EPS Actual | 1.08 | 2.45 | 1.23 | 1.29 |
| Revenue Estimate | 5.33B | 8.43B | 5.20B | 4.98B |
| Revenue Actual | 5.35B | 8.66B | 5.44B | 5.65B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Macy’s management provided guidance for FY 2022, expecting earnings between $4.0 and $4.2 per share.
To track all earnings releases for Macy’s visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
