Stamps.com Inc. (NASDAQ: STMP) reported its third-quarter financial results after the markets closed on Thursday. It’s worth pointing out that this company was absolutely crushed in the first quarter after it terminated its deal with the U.S. Post Office. While Stamps.com might still be down on the year, the stock has done exceedingly well since June, but it takes a lot to ignore the chart before that.
The firm said that it had $1.12 in earnings per share (EPS) and $136.2 million in revenue in the latest quarter, compared with consensus estimates of $0.70 in EPS and $123.16 million in revenue. The same period of last year reportedly had $2.76 in EPS and $143.5 million in revenue.
Second-quarter Mailing and Shipping revenue decreased 3% year over year to $132.9 million. Customized Postage revenue was $3.3 million, down 52% from last year.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $3.85 to $4.85 and total revenue between $535 million and $565 million. The consensus estimates are for $4.19 in EPS and $540.61 million in revenue for the year.
Ken McBride, board chair and chief executive, commented:
In our ongoing efforts to evolve our strategy to more fully embrace a global multi-carrier and e-commerce services focused business model, we achieved a significant milestone with the recent announcement of our new partnership with UPS. We’re excited about this new collaboration and view it as a meaningful step in our strategy to diversify our carrier relationships.
Shares of Stamps.com traded up more than 17% early Friday at $94.86, in a 52-week range of $32.54 to $207.25. The consensus price target is $81.00.
Source: Read Full Article