TJX tops Street 3Q forecasts
Nov. 15, 2016
FRAMINGHAM, Mass. (AP) — The TJX Cos. (TJX) on Tuesday reported fiscal third-quarter profit of $549.8 million.
On a per-share basis, the Framingham, Massachusetts-based company said it had profit of 83 cents. Earnings, adjusted to extinguish debt, were 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The parent of T.J. Maxx, Marshalls and other stores posted revenue of $8.29 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $8.27 billion.
TJX expects full-year earnings in the range of $3.46 to $3.48 per share.
TJX shares have risen almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 6 percent. The stock has increased almost 9 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TJX at https://www.zacks.com/ap/TJX
Keywords: TJX, Earnings Report