Company Earnings Update 2 minutesRegister for Free AccessJC Penney (JCP) Fiscal 3Q18 Results: Company Misses Expectations and Withdraws Full Year Guidance Coresight Research November 16, 2018 Executive Summary JCPenney reported 3Q18 revenues of $2.65 billion, down 5.8% year over year and below the consensus estimate of $2.76 billion. Adjusted EPS was $0.52, up 48.6% from the year ago quarter, below the consensus estimate of $0.56 but above last year’s EPS of $0.35. The company’s comparable sales were down 5.4% for the third quarter. Management noted that given the recently announced CEO and interim CFO, the company will withdraw its previous 2018 full-year earnings guidance and update full-year comparable store sales guidance. FY18 comps are expected to be down low-single digits and the company continues to expect to achieve positive free cash flow for the year. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Weekly US and UK Store Openings and Closures Tracker 2023, Week 21: UK Closures Up 59%Weinswig’s Weekly: Roblox and Fortnite Set the Stage for the Developing MetaverseUS CPG Sales Tracker: Food & Beverages Category Drives Online CPG Growth’s Sequential ImprovementEarnings Insights 3Q23, Week 6: Dollar Tree, PVH and Ulta Beauty Report Positive Sales Growth; Big Lots, Kroger and Petco See Sales Decline