Gap stock jumps in out-of-hours trade as earnings beat expectations
Gap Inc (NYSE:GPS) shares popped some 15% higher overnight after it released better-than-expected financials after Thursday’s closing bell. Chief executive Richard Dickson said that Gap’s “brand reinvigoration playbook” was helping to make the company stronger and driving progress to unlock the brand’s “full potential”. The jeans-and-hoodies retailer last night announced third-quarter fiscal 2024 results, with earnings per share of $0.72 surpassing analyst expectations of $0.58. Revenue for the period was $3.80 billion, slightly below the $3.81 billion consensus estimate. GAP highlighted 7% growth in online sales, which constituted 40% of total net sales, while store sales declined by 2%. Operating income stood at $355 million, reflecting an operating margin of 9.30%, a 270-basis-point improvement compared to the prior year. The company also reported net income of $274 million for the quarter. Ahead of Friday’s open in New York, the stock price was up $3.36 or 15.25% at $25.40. Sidney Resources Corporation (OTC:SDRC) has welcomed Jim Scherrer, a seasoned leader with over 38 years of experience in infrastructure development, to its board of directors. The company highlighted that Scherrer has successfully transformed Scherrer Construction into a nationally recognized entity, balancing sustainable growth and community development. His appointment strengthens Sidney’s commitment to advancing green technologies and expanding operations in the Warren District, Sidney Resources said. Scherrer’s expertise in large-scale projects and strategic investment optimization is expected to enhance Sidney Resources’ operational efficiency and shareholder value. "Jim Scherrer is not just a leader; he's a game-changer," Sidney Resources CEO Sean-Rae Zalewski said in a statement. "His ability to optimize capital investments and develop cutting-edge infrastructure will be critical as we position Sidney for accelerated growth and profitability. Investors should be as excited as we are-Jim's expertise will ensure Sidney Resources achieves its full potential while maximizing value for our shareholders." Scherrer described joining Sidney Resources as “an incredible opportunity to contribute to a company at the forefront of sustainable development.” "I am excited to help drive Sidney's mission forward and ensure that every investment we make translates into measurable growth and long-term success." Boeing Co (NYSE:BA, ETR:BCO) has landed an order worth US$2.38 billion for aerial refuelers from the US Air Force. A contract to build a further 15 KC-46A Pegasus tankers was unveiled on Thursday, adding to the 89 delivered to the US Air Force since 2019, Boeing said in a statement. “We appreciate our continued partnership with the US Air Force,” KC-46 programme manager Lynn Fox commented, “this is another big milestone for our team”. The tanker made its first full-scale operational deployment in October after receiving approval for missions by the US in 2022. The deal meant some 168 KC-46As were now under order globally, Boeing added. “We look forward to delivering the world’s most advanced multi-mission aerial refuelers for years to come,” Fox said.
Gap Stock Price Levels to Watch as Shares Surge 16% After Earnings Report
Gap (GAP) shares soared in extended trading Thursday after the apparel retailer reported stronger-than-expected third-quarter results and raised its sales outlook.
The Gap, Inc. (GAP) Q3 2024 Earnings Call Transcript
The Gap, Inc. (NYSE:GAP ) Q3 2024 Earnings Conference Call November 21, 2024 5:00 PM ET Company Participants Whitney Notaro - Head of Investor Relations Richard Dickson - President and Chief Executive Officer Katrina O'Connell - Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Adrienne Yih - Barclays Robert Drbul - Guggenheim Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Ike Boruchow - Wells Fargo Alex Straton - Morgan Stanley Lorraine Hutchinson - Bank of America Simeon Siegel - BMO Capital Markets Mark Altschwager - Baird Michael Binetti - Evercore ISI Operator Good afternoon, ladies and gentlemen. I would like to welcome everyone to the Gap Inc. Third Quarter 2024 Earnings Conference Call.
Gap (GAP) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for Gap (GAP) give a sense of how its business performed in the quarter ended October 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Gap (GAP) Beats Q3 Earnings and Revenue Estimates
Gap (GAP) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.59 per share a year ago.
Gap skyrockets on earnings beat
Corey Tarlowe, Jefferies SVP of Equity Research, joins 'Closing Bell Overtime' to talk GAP jumping on earnings.
Gap Raises Full-Year Outlook With Strong Start to Holiday Season
The apparel retailer said it now expects full-year sales to grow between 1.5% and 2%. Gap had most recently guided for sales to be up slightly.
Gap stock rallies on better forecast, as holiday shopping ‘off to a strong start'
Shares of Gap Inc. rallied after hours on Thursday after the clothing retailer pushed its full-year outlook higher and said the holiday shopping season was “off to a strong start.”
Gap raises guidance ahead of holidays after storms, warm weather slowed sales
Gap raised its guidance ahead of the holiday shopping season as it touted a "strong start" to the all-important fourth quarter. The apparel giant behind Old Navy, Banana Republic, Athleta and its eponymous banner blew past Wall Street's earnings estimates despite a tough quarter impacted by unseasonably warm weather and hurricanes.
What Analysts Think of Gap Stock Ahead of Earnings
The Gap (GAP) will report third-quarter earnings after the market closes on Thursday, and analysts are predominantly bullish on the clothes retailer.
Gap Q3 Earnings Coming Up: Here's What Investors Should Know
GAP's third-quarter fiscal 2024 top-line results are likely to reflect gains from strength in brands and other efforts.
Is The Gap (GAP) Stock Undervalued Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
