HomeTrending StocksWhy Express, Inc. (EXPR) stock surged on Tuesday?

Why Express, Inc. (EXPR) stock surged on Tuesday?

Express, Inc. (EXPR) stock started the new week by gaining 11.19% in the normal trading session on Tuesday, June 1, 2021. EXPR continued its momentum and further surged 7.76% in the after-hours session and closed the day at $5.14 per share. EXPR shares have risen 156.45% over the last 12 months, and they have moved up 27.88% in the past week. Over the past three months, the stock has gained 80.00%, while over the past six months, it has soared 200.00%.

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Let’s see what is happening with EXPR?


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Upcoming financial results announcement

Express, Inc. is going to release its first-quarter 2021 results on Thursday, June 3, 2021, at 9:00 a.m. Eastern Time (ET).

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What to expect?

Wall Street analysts are expecting an increase in earnings on higher revenues when Express (EXPR) reports results for the quarter ended April 2021.

According to Zacks estimates, a quarterly loss of $0.55 per share is expected, representing a year-over-year change of +64.5%.

Zack is estimating revenue to be 331.51 million for the quarter.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Q4 and FY2020 financial results announcement

On March 10, 2021, Express, Inc announced its financial results for the fourth quarter and full-year 2020.

Q4 2020 financial highlights

Express Inc net sales decreased to $430.3 million in Q4 2020 compared to $606.7 million in the fourth quarter of 2019

The gross margin was 16.6% of net sales in Q4 2020 compared to 27.0% in last year’s fourth quarter.

Selling, general, and administrative expenses were $134.0 million inQ4 2020 compared to $148.9 million in Q4 2019.

The company suffered an operating loss of $62.7 million inQ4 2020 compared to a loss of $189.9 million in the fourth quarter of 2019.

Net loss was $53.3 million, or a loss of $0.82 per diluted share in Q4 2020 compared to a net loss of $141.6 million, or a loss of $2.21 per diluted share, in the fourth quarter of 2019.

EBITDA was a loss of $45.0 million in Q4 2020 compared to a loss of $168.7 million in the fourth quarter of 2019.

FY2020 financial highlights

In FY 2020, Express Inc net sales were $1,208 million compared to $2,019 million in 2019.

In FY2020, operating loss was $455.2 million compared to a loss of $217.9 million in 2019.

In FY 2020, net loss was $405.4 million, or a loss of $6.27 per diluted share compared to a net loss of $164.4 million, or a loss of $2.49 per diluted share, in FY2019.

EBITDA was a loss of $384.7 million in FY 2020compared to a loss of $132.8 million in FY 2019.

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Conclusion

Investors may be betting on an improved financial results announcement which is due on June 3, 2021, because as of this writing, there is no other news that could be linked with its gains on Tuesday.

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