Company news: Macy's (M) quarterly earnings marginally beat analysts’ estimates

Macy's (M) reported Q3 FY2024 earnings of $0.04 per share (versus $0.21 per share in Q3 FY2023), slightly beating analysts’ consensus estimate of $0.03 per share.

The company’s quarterly revenues amounted to $4.742 bln (-2.4% y/y), matching analysts’ consensus estimate of $4.742 bln.

The company also issued mixed guidance for FY2024, seeing EPS of $2.25-2.50 versus its prior guidance of $2.34-2.69 and analysts’ consensus estimate of $2.73, and revenues of $22.3-22.5 bln versus its prior guidance of $22.1-22.4 bln and analysts’ consensus estimate of $22.18 bln.

M fell to $15.32 (-8.37%) in pre-market trading.

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