Tapestry (NYSE:TPR) reported its Q3 earnings results on Thursday, May 11, 2023 at 06:45 AM.
Here’s what investors need to know about the announcement.
Earnings
Tapestry beat estimated earnings by 32.2%, reporting an EPS of $0.78 versus an estimate of $0.59.
Revenue was up $72.00 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.09 which was followed by a 0.6% drop in the share price the next day.
Here’s a look at Tapestry’s past performance:
| Quarter | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|
| EPS Estimate | 1.27 | 0.75 | 0.77 | 0.41 |
| EPS Actual | 1.36 | 0.79 | 0.78 | 0.51 |
| Revenue Estimate | 2.03B | 1.50B | 1.64B | 1.42B |
| Revenue Actual | 2.02B | 1.51B | 1.62B | 1.44B |
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
Tapestry management provided guidance for FY 2023, expecting earnings between $3.85 and $3.9 per share.
To track all earnings releases for Tapestry visit their earnings calendar here.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
