Shoe Carnival Jumps 20% on Q1 Guidance

Shoe Carnival

released its Q4 earnings results on Wednesday after the closing bell. The company reported net income of $3.3 million or $0.24 per share, versus $4.4 million or $0.33 per share, in the year ago period. This came in ahead of Wall Street consensus EPS estimates of $0.21. Revenues for the fourth quarter were $181.9 million compared to $179.9 million in last year's fourth quarter. This also beat analysts' consensus revenue estimates of $180.91 million. Looking ahead to Q1, Shoe Carnival sees EPS between $0.75 and $0.78 on sales of $219 million to $222 million. This compares to current Street consensus estimates of $0.70 on revenues of $207.69 million. During Thursday's trading session, SCVL shares have jumped more than 20% to $31.96 on very heavy volume as the market prices in the company's guidance for Q1.