Markets

Fossil Group (FOSL) Reports Q1 Earnings, Stock Tanks On Weak Guidance

An image of stock prices rising and declining in value
Credit: Shutterstock photo

Fossil Group (FOSL) just released its first quarter fiscal 2016 earnings results, posting earnings of $0.20 per share and revenue of $659.8 million.

Currently, FOSL has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company's latest earnings report. Here are 5 key statistics from this just announced report below.

Fossil Group:

1. Beat earnings estimates. The company posted earnings of 20 cents per share (excluding 8 cents from non-recurring items), beating our Zacks Consensus Estimate of $0.14.

2. Missed revenue estimates. The company saw revenue figures of $659.8 million, missing our estimate of $668 million.

3. According to the report, Fossil expects net sales to decrease in the range of 5% to 1.5% for fiscal 2016.

4. Fossil also updated its earnings guidance for fiscal 2016 and now expects an annual EPS in the range of $1.80 to $2.80. Currently, the average estimate sits at $2.91.

5. FOSL was down $10.40, or 25.81%, to $29.75 as of 4:30 PM ET in after hours trading shortly after its earnings report was released.

Here's a graph that looks at FOSL's latest earnings performance:

Fossil Group Inc. (FOSL) Street Actual & Estimate EPS - Last 5 Quarters | FindTheCompany

Check back later for our full analysis on Fossil Group's latest quarterly earnings report!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

FOSSIL GRP INC (FOSL): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

FOSL

Other Topics

Earnings

Latest Markets Videos