Target reports Q2 EPS $4.11; tariff-excluding EPS $2.46
Target reports second-quarter EPS of $4.11 versus consensus of $2.34, but JPMorgan says $1.65 tariff refunds lifted earnings; excluding them EPS is in-line at $2.46.
Shares of Target Corp (NYSE: TGT ) rallied in early trading on Wednesday, after the company reported its second-quarter results. The company reported strong sales and traffic, but its high earnings beat was driven by tariff benefits, according to JPMorgan analyst Christopher Horvers The Target Analyst: Horvers reiterated a Neutral rating on the stock. 65 per share, earnings were in-line with expectations, Horvers said in the note. Check out other analyst stock ratings.
5%. 7%. All six merchandising categories recorded growth during the quarter, including +DD Fun101 and +HSD F&B and Beauty. Non-merchandising sales grew 20%+ on Roundel, Target Circle 360, and Target+.
8%, due to tariff refund benefits of 170 bps. Target raised its full-year net sales growth guidance to around 5%, from its earlier projection of 4%, the analyst stated. 3%, he added. Horvers noted that management also revised the following full-year forecasts: Operating margin expansion to 140 bps (50 bps excluding tariff refunds), from prior 20 bps.
Higher than consensus of 40 bps. 50 per share. 55 per share. 00 at the time of publication on Wednesday.
Read Also: Dow Gains Over 100 Points; Target Posts Upbeat Q2 Earnings Image: Shutterstock