Signet Jewelers Q1 Earnings Beat Estimates; Stock Up

(RTTNews) - Signet Jewelers Limited (SIG) on Thursday reported net loss of $92.1 million or $1.89 per share in the first quarter compared with net income of $129.8 million or $2.23 per hare in the comparable quarter last year.

The company had non-operating expense of $134.5 million in the latest quarter.

Excluding one-time items, earnings were $2.86 per share in the first quarter.

Sales for the quarter increased to $1.838 billion from $1689 billion last year.

On average, 5 analysts polled by Thomson Reuters expected the company to report earnings of $2.38 per share on revenue of $1.8 billion for the quarter. Analysts' estimates typically exclude special items.

Looking forward, Signet expects second-quarter revenue to be in the range of $1.79 billion- $1.82 billion. The consensus estimate stands at $1.81 billion.

For the full year, the company is reaffirming outlook for revenue in the range of $8.03 billion-$8.25 billion and EPS between $12.72 and $13.47. Analysts see earnings of $11.81 per share on revenue of $7.99 billion for the year.

Signet shares are up more than 5% in pre-market. It closed at $62.20, down 3.58% on Wednesday.