Guess?, Inc. (NYSE:GES) shares were trading lower in Tuesday's after-hours session after the company reported worse-than-expected, third-quarter financial results and issued fourth-quarter adjusted earnings per share guidance below estimates.

What To Know: Guess? reported quarterly earnings of 49 cents per share, falling below the analyst consensus estimate of 62 cents, representing an 11.36% increase over earnings of 44 cents per share from the same period last year.

The company reported quarterly sales of $651.00 million, missing The Street's estimate of $656.03 million, a 2.78% increase over sales of $633.40 million from the same period last year.

The company also detailed its net revenue data for the quarter, including Europe revenues which increased 6% in U.S. dollars and 5% in constant currency. Retail comparable sales (including e-commerce) increased 8% in U.S. dollars and 7% in constant currency.

The operating margin for the quarter was 8.4%.

Guess? issued fourth-quarter guidance, expressing a cautious view going forward, with earnings expected to be in a range between $1.53 and $1.60 per share, versus the $1.68 estimate, while Net Revenue is expected to be up 4 to 6%.

Additionally, the company lowered its full-year 2024 outlook, anticipating revenue growth between 1.8% and 2.4% and adjusted earnings per share between $2.67 and $2.74. Operating margin for the full-year is expected to be roughly 9%.

"Overall, a strong licensing business combined with a disciplined approach to cost management offset softness in some of our direct-to-consumer businesses and drove earnings from operations for the Company that were flat to last year's performance."

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GES Price Action: Shares of GES were down 14.59% at $23.72 in the after-hours session at the time of publication, according to Benzinga Pro.

Photo: Michal Jarmoluk from Pixabay