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Omar Venerio
Omar Venerio
Articles (1399) 

3 Stocks Move Wednesday

Oxford Industries, H&R Block and Crown Crafts move on earnings

June 13, 2018 | About:

Shares of Oxford Industries Inc. (NYSE:OXM) fell after reporting first quarter earnings per share of $1.28 on revenue of $272.63 million. The company managed to beat earnings by 5 cents, but fell short revenue estimations by $1.23 million.

In the first trimester, the gross profit was $164.1 million compared to $159.4 million in the same quarter of the prior year. Gross margin grew to 60.2% compared to 58.5% in the first quarter of fiscal 2017. Adjusted gross margin inched up 120 basis points to 60.4% from 59.2% in the same trimester of the previous year.

Looking ahead, the company expects net sales between $300 million and $310 million compared to net sales of $284.7 million in the second quarter of fiscal 2017. Earnings per share on a GAAP basis are expected to be in a range of $1.72 to $1.82 and on an adjusted basis are expected to be in a range of $1.75 to $1.85.

The company also has raised its outlook for the full year fiscal 2018. It now expects GAAP earnings per share to be between $4.32 and $4.52. On an adjusted basis, earnings per share are expected to be in a range of $4.45 to $4.65. Net sales will be $1.125 billion and $1.145 billion.

Shares of H&R Block Inc. (NYSE:HRB) fell almost 20% after reporting fourth quarter earnings per share of $5.43 on revenue of $2.39 billion. The company beat earnings estimates by 16 cents and revenue expectations by $50 million.

"We are pleased with our financial performance this year, with revenue growth, strong margins and improved earnings," said Tony Bowen, H&R Block's chief financial officer. "Our improved results, along with our strong balance sheet and cash position, provide a solid foundation as we invest in our strategic evolution."

Crown Crafts Inc. (NASDAQ:CRWS)’s stock advanced on the heels of the company reporting its financial results for the fourth quarter. The company posted earnings per share of 20 cents on revenue of $22.69 million, which was higher by 31.1% than the figure reported a year earlier.

Gross profit was 25.9% of net sales, down from 29.9% in the prior-year quarter. Excluding certain items, the company’s gross profit expressed as a percentage was 29.0%. Further, gross profit for the year was 28.1% of net sales, down from 29.4% in the prior year.

Disclosure: The author holds no position in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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