Signet Jewelers Q3 Profit Beats Estimates; Raises Full Year Guidance

(RTTNews) - Signet Jewelers Limited (SIG) reported third quarter non-GAAP EPS of $0.74, down from $1.43 last year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.31, for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders declined to $28.8 million from $83.9 million, last year. GAAP earnings per share was $0.60, down from $1.45.

Total sales were $1.6 billion, up 2.9% from last year. Same store sales were down 7.6%. Analysts on average had estimated $1.5 billion in revenue.

For fiscal 2023, the company expects: non-GAAP earnings per share of $11.40 to $12.00; and sale of $7.77 to $7.84 billion. The company's outlook includes the impact of the Blue Nile acquisition and continuing unfavorable revenue impact from foreign currency.

Signet's Board has declared a quarterly cash dividend on common shares of $0.20 per share for the fourth quarter of fiscal 2023, payable February 24, 2023 to shareholders of record on January 27, 2023, with an ex-dividend date of January 26, 2023.

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