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What To Expect From TJX’s (TJX) Q3 Earnings

StockStory - Tue Nov 14, 2023

TJX Cover Image

Off-price retail company TJX (NYSE:TJX) will be reporting earnings tomorrow before the bell. Here's what you need to know.

Last quarter TJX reported revenues of $12.76 billion, up 7.7% year on year, beating analyst revenue expectations by 2.5%. It was a very strong quarter for the company, with an impressive beat of analysts' revenue estimates. The company also lifted its full-year revenue and EPS guidance.

Is TJX buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting TJX's revenue to grow 7.4% year on year to $13.07 billion, improving on the 2.9% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.99 per share.

TJX Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.

Looking at TJX's peers in the apparel and footwear retail segment, only Boot Barn has so far reported results, delivering top-line growth of 6.5% year on year, missing analyst estimates by 0.8%. The stock traded down 6.2% on the results.

Read our full analysis of Boot Barn's earnings results here.

There has been a stampede out of high valuation stocks and while some of the apparel and footwear retail stocks have fared somewhat better, they have not been spared, with share price declining 2.1% over the last month. TJX is up 2% during the same time, and is heading into the earnings with analyst price target of $99.0, compared to share price of $91.5.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.