Market Overview

Michaels Companies: Q3 Earnings Insights

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Shares of Michaels Companies (NASDAQ:MIK) moved higher by 6.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 115.00% over the past year to $0.86, which beat the estimate of $0.59.

Revenue of $1,406,000,000 higher by 15.06% year over year, which beat the estimate of $1,390,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Dec 03, 2020

Time: 09:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/mik/mediaframe/41560/indexr.html

Technicals

52-week high: $11.70

52-week low: $1.00

Price action over last quarter: Up 3.71%

Company Profile

The Michaels Companies Inc is an arts and crafts specialty retailer in North America. The company provides materials, project ideas, and education for creative activities like crafting classes, store events, store displays, mobile applications, and online videos. The company sells merchandise through two stores: Michaels and Aaron Brothers. Michaels' revenue segments are general crafts, home decor and seasonal, Custom and ready-made framing, and paper crafting. Aaron Brothers offer unique framing assortments. The company operates its own distribution network through a wholly owned subsidiary to supply merchandise in the stores.

 

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Posted-In: Earnings News

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