Signet Jewelers Reports Non-GAAP EPS of $0.24, Revenue of $1.4B
December 6, 2023
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Signet Jewelers ($NYSE:SIG) Ltd. (NYSE: SIG), one of the world’s largest specialty jewelry retailers, recently reported their Non-GAAP Earnings Per Share (EPS) and revenue. Revenue for the period totaled $1.4B, which was in line with expectations.
Signet Jewelers Ltd. is a globally-recognized retailer specializing in diamond jewelry, watches, rings, and other luxury items. The company is headquartered in Akron, Ohio.
Earnings
Signet Jewelers, a leading specialty jewelry retailer, reported strong third quarter earnings for FY2024 as of October 31 2021. The company earned total revenue of 1537.8 million USD, a 2.8% decrease compared to the same period last year. Net income for the quarter was 92.6 million USD, a 146.9% increase compared to the same period last year. Signet Jewelers’s total revenue has decreased from 1537.8 million USD in FY2022 to 1391.9 million USD in FY2024.
Despite this decrease, Q3 FY2024 saw the company report non-GAAP EPS of $0.24, which is significantly higher than the same period last year. Overall, Q3 FY2024 proved to be a successful quarter for Signet Jewelers with total revenue of $1.4 billion and non-GAAP EPS of $0.24. This solid performance is further proof that Signet Jewelers remains a leading specialty jewelry retailer, even amid the difficult economic conditions generated by the pandemic.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Signet Jewelers. More…
| Total Revenues | Net Income | Net Margin |
| 7.34k | 427 | 5.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Signet Jewelers. More…
| Operations | Investing | Financing |
| 748.1 | -130.9 | -302.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Signet Jewelers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.06k | 3.84k | 50.16 |
Key Ratios Snapshot
Some of the financial key ratios for Signet Jewelers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.2% | 75.0% | 3.5% |
| FCF Margin | ROE | ROA |
| 8.4% | 7.1% | 2.6% |
Stock Price
The company attributed its strong performance to higher sales in the United States, mainly driven by its e-commerce business. Live Quote…
Analysis
At GoodWhale, we conducted an analysis of the fundamentals of SIGNET JEWELERS. According to our Star Chart, SIGNET JEWELERS has a high health score of 8/10 with regard to its cashflows and debt, meaning it is capable to safely ride out any crisis without the risk of bankruptcy. Furthermore, SIGNET JEWELERS is classified as ‘rhino’, a type of company we conclude that has achieved moderate revenue or earnings growth. Investors who are looking for companies with strong dividend and profitability may be interested in SIGNET JEWELERS. It has a medium score in asset and growth, meaning that it is not the highest performer in those categories. However, it can provide a steady but reliable return on the investor’s money. More…
Peers
The company is engaged in the retail sale of diamond jewelry, watches, and other related items. Signet Jewelers competes in the jewelry industry with other retailers such as Jakroo Inc, ABC Technologies Holdings Inc, and National Vision Holdings Inc.
– Jakroo Inc ($OTCPK:JKRO)
ATC Technologies Holdings Inc is a global provider of precision machining solutions. The company offers a range of services, including contract manufacturing, machining, and assembly. ATC serves a variety of industries, including aerospace, defense, medical, and semiconductor. The company has a market cap of 559.41M and a ROE of -9.23%.
– ABC Technologies Holdings Inc ($TSX:ABCT)
National Vision Holdings Inc is a holding company that operates through its subsidiaries as one of the largest optical retailers in the United States. The company offers a wide variety of vision care products and services including eyeglasses, contact lenses, eye exams, and prescription sunglasses. As of 2022, the company had a market capitalization of 2.66 billion dollars and a return on equity of 10.47%. National Vision Holdings Inc operates over 1,400 stores in 42 states across the United States.
Summary
Signet Jewelers Ltd. Revenues for the quarter were $1.4 billion, which met expectations. The stock price reacted positively to the quarterly earnings and moved up the same day. Investor sentiment in Signet Jewelers is strong. The company has achieved success by focusing on customer experience and offering a wide range of products and services. Signet’s focus on creating value for customers is reflected in its impressive financial performance over the past year. The company has delivered strong growth in comparable sales, earnings, and operating margin.
In addition, Signet recently announced its plans to launch a digital customer experience platform, which is expected to further drive growth for the company. Overall, Signet Jewelers is an attractive investment opportunity for investors due to its strong financial performance and focus on creating value for customers. The company’s plans for a digital customer experience platform is likely to further drive growth in the future.
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