: TJX Cos. warns it’ll fall short of Q4 earnings estimate, as stock drops

TJX Cos. TJX stock was down 1.2% in premarket trading on Wednesday after the retailer issued fourth-quarter guidance below analyst estimates, even as its third-quarter profit beat expectations. TJX said its third-quarter net income rose to $1.19 billion, or $1.03 a share, from $1.06 billion, or 91 cents a share, in the year-ago quarter. TJX’s adjusted third-quarter earnings of $1.03 a share beat the FactSet consensus estimate of 99 cents a share and exceeded the company’s expectations. Revenue increased by 9% to $13.3 billion, ahead of the analyst estimate of $13.1 billion. Looking ahead, TJX expects fourth-quarter adjusted profit of 97 cents to $1 a share, below the analyst estimate of $1.13 a share. The company disclosed a fourth-quarter impact of 3 cents a share “from the expected reversal of the third quarter fiscal 2024 benefit from the timing of expenses.”

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