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Carter's (CRI) to Report Q3 Earnings: What's in the Offing?
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Carter's, Inc. (CRI - Free Report) is scheduled to release third-quarter 2022 earnings on Oct 28, before the opening bell. The Zacks Consensus Estimate for third-quarter revenues is pegged at $857 million, indicating a decline of 3.8% from the figure reported in the year-ago quarter.
However, the Zacks Consensus Estimate for third-quarter earnings has been stable at $1.65 in the past 30 days, suggesting a fall of 14.5% from the year-ago quarter’s reported figure.
The branded marketer of apparel, exclusively for babies and children in North America, has a trailing four-quarter earnings surprise of 8.5%, on average. In the last reported quarter, CRI’s bottom line missed the Zacks Consensus Estimate by 20.3%.
Factors to Note
Carter’s has been witnessing drab sales in the retail segment for a while now. In addition, adverse impacts of supply-chain headwinds, inflation, high ocean freight costs remain a concern. These factors along with a tough year-over-year comparison and the surge in gas prices might have hurt CRI’s performance in the quarter under review.
On its last earnings call, Carter’s projected net sales of $850-$865 million for third-quarter 2022. Management had envisioned adjusted earnings of $1.50-$1.70, suggesting a fall from $1.93 reported in the prior-year quarter and an adjusted operating income of $90-$100 million, indicating a decline from $123.9 million recorded in the year-ago quarter.
However, strength in its e-commerce business, driven by expanded omnichannel facilities, including curbside pickup, same-day pickup, buy online and pickup at store and ship from store along with easy access to a broad array of online products when shopping in stores, appears encouraging. Carter's’ mobile app has also been performing well for a while. Also, improved price realization and gains from share repurchases remain tailwinds.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Carter's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Carter's currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
BJ's Wholesale (BJ - Free Report) has an Earnings ESP of +3.13% and a Zacks Rank of 1, currently. BJ is likely to register top-line growth from the year-ago fiscal quarter’s reported figure when it reports third-quarter fiscal 2022. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.62 billion, suggesting 8.3% growth from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BJ's Wholesale’s earnings for the fiscal third quarter is pegged at 80 cents, suggesting a 12.1% decline from 91 cents reported in the year-ago fiscal quarter. The consensus mark has moved a penny up in the past 30 days.
Costco (COST - Free Report) currently has an Earnings ESP of +0.53% and a Zacks Rank of 3. COST is expected to register top and bottom-line growth from the respective year-ago fiscal quarter’s readings when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for COST’s quarterly revenues is pegged at $54.98 billion, suggesting growth of 9.2% from the prior-year fiscal quarter’s reported figure.
The Zacks Consensus Estimate for Costco’s quarterly earnings has moved up 2.3% in the past 30 days. The consensus estimate for earnings suggests 6.1% growth from the year-ago fiscal quarter’s reported number. COST delivered an earnings beat of 7.7%, on average, in the trailing four quarters.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +0.08% and is Zacks #3 Ranked. RL is anticipated to register top-line growth from the prior-year fiscal quarter’s actuals when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.6 billion, indicating an improvement of 3.7% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Ralph Lauren’s earnings of $2.07 per share has been stable in the past 30 days. The consensus estimate suggests a decline of 21% from $2.62 reported in the year-ago quarter. RL delivered an earnings beat of 34.9%, on average, in the trailing four quarters.
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Carter's (CRI) to Report Q3 Earnings: What's in the Offing?
Carter's, Inc. (CRI - Free Report) is scheduled to release third-quarter 2022 earnings on Oct 28, before the opening bell. The Zacks Consensus Estimate for third-quarter revenues is pegged at $857 million, indicating a decline of 3.8% from the figure reported in the year-ago quarter.
However, the Zacks Consensus Estimate for third-quarter earnings has been stable at $1.65 in the past 30 days, suggesting a fall of 14.5% from the year-ago quarter’s reported figure.
The branded marketer of apparel, exclusively for babies and children in North America, has a trailing four-quarter earnings surprise of 8.5%, on average. In the last reported quarter, CRI’s bottom line missed the Zacks Consensus Estimate by 20.3%.
Factors to Note
Carter’s has been witnessing drab sales in the retail segment for a while now. In addition, adverse impacts of supply-chain headwinds, inflation, high ocean freight costs remain a concern. These factors along with a tough year-over-year comparison and the surge in gas prices might have hurt CRI’s performance in the quarter under review.
On its last earnings call, Carter’s projected net sales of $850-$865 million for third-quarter 2022. Management had envisioned adjusted earnings of $1.50-$1.70, suggesting a fall from $1.93 reported in the prior-year quarter and an adjusted operating income of $90-$100 million, indicating a decline from $123.9 million recorded in the year-ago quarter.
However, strength in its e-commerce business, driven by expanded omnichannel facilities, including curbside pickup, same-day pickup, buy online and pickup at store and ship from store along with easy access to a broad array of online products when shopping in stores, appears encouraging. Carter's’ mobile app has also been performing well for a while. Also, improved price realization and gains from share repurchases remain tailwinds.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Carter's this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Carter's currently has a Zacks Rank #3 and an Earnings ESP of 0.00%.
Stocks With Favorable Combination
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
BJ's Wholesale (BJ - Free Report) has an Earnings ESP of +3.13% and a Zacks Rank of 1, currently. BJ is likely to register top-line growth from the year-ago fiscal quarter’s reported figure when it reports third-quarter fiscal 2022. The Zacks Consensus Estimate for quarterly revenues is pegged at $4.62 billion, suggesting 8.3% growth from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for BJ's Wholesale’s earnings for the fiscal third quarter is pegged at 80 cents, suggesting a 12.1% decline from 91 cents reported in the year-ago fiscal quarter. The consensus mark has moved a penny up in the past 30 days.
Costco (COST - Free Report) currently has an Earnings ESP of +0.53% and a Zacks Rank of 3. COST is expected to register top and bottom-line growth from the respective year-ago fiscal quarter’s readings when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for COST’s quarterly revenues is pegged at $54.98 billion, suggesting growth of 9.2% from the prior-year fiscal quarter’s reported figure.
The Zacks Consensus Estimate for Costco’s quarterly earnings has moved up 2.3% in the past 30 days. The consensus estimate for earnings suggests 6.1% growth from the year-ago fiscal quarter’s reported number. COST delivered an earnings beat of 7.7%, on average, in the trailing four quarters.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +0.08% and is Zacks #3 Ranked. RL is anticipated to register top-line growth from the prior-year fiscal quarter’s actuals when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.6 billion, indicating an improvement of 3.7% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Ralph Lauren’s earnings of $2.07 per share has been stable in the past 30 days. The consensus estimate suggests a decline of 21% from $2.62 reported in the year-ago quarter. RL delivered an earnings beat of 34.9%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.