WASHINGTON (dpa-AFX) - The TJX Companies, Inc. (TJX) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $1.036 billion, or $0.92 per share. This compares with $1.070 billion, or $0.93 per share, last year.
Analysts on average had expected the company to earn $0.91 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 5.1% to $13.111 billion from $12.479 billion last year.
The TJX Companies, Inc. earnings at a glance (GAAP) :
-Earnings: $1.036 Bln. vs. $1.070 Bln. last year. -EPS: $0.92 vs. $0.93 last year. -Revenue: $13.111 Bln vs. $12.479 Bln last year.
Looking ahead, for the second quarter, the company expects net income per share of $0.97 to $1, higher than the $0.96 per share recorded for the same period last year. On average, 16 analysts polled forecast the company to post profit of $1.03 per share for the second quarter. Analysts' estimates typically exclude special items.
TJX anticipates its second-quarter sales to improve by 2% to 3%.
The company noted that this second-quarter outlook includes an incremental negative impact from tariff costs on the merchandise it was committed to at the time additional tariffs were announced in March and April.
For the full year, the company has reaffirmed its guidance. TJX still expects net income per share of $4.34 to $4.43, higher than the prior year's $4.26 per share and below analysts' forecast of $4.51 per share.
The company continues to expect annual sales to be up 2% to 3%.
TJX was down by 1.90% at $132.36 in the pre-market trade on the New York Stock Exchange.
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