Signet Jewelers (SIG) Stock Jumps 9% After Earnings Beat and Raised Full-Year Outlook
TLDR
- Signet Jewelers stock surged 9% in premarket trading after its Q2 earnings report
- Adjusted EPS of $2.19 beat analyst estimates of $1.74; sales of $1.53 billion met expectations
- Full-year adjusted EPS guidance raised to $10.45-$12.25, up from $9.20-$11
- Same-store sales grew 2.2%, ahead of the 1.9% analysts projected
- Signet announced a $125 million accelerated share repurchase program and extended its credit partnership with Bread Financial through 2035
Signet Jewelers stock jumped 9% in premarket trading on Wednesday after the company posted a stronger-than-expected earnings report and raised its full-year outlook.
Adjusted earnings came in at $2.19 per share, well ahead of the $1.74 analysts had forecast. Sales declined less than 1% to $1.53 billion, landing in line with expectations.
The company swung to a net profit of $52.1 million, or $1.33 per share, compared to a loss of $9.1 million, or 22 cents per share, in the same period last year.
SIGNET JEWELERS $SIG Q2โ27 EARNINGS HIGHLIGHTS
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