Target Corporation (NYSE: TGT) reported its third quarter 2024 earnings results today.
Total revenue was $25.7 billion, up 1.1% from the year-ago quarter. Comparable sales increased 0.3%.
Net earnings decreased 12% to $854 million, or $1.85 per share, compared to last year. Adjusted EPS was $1.85.
Revenue and earnings missed expectations.
For the fourth quarter of 2024, the company expects approx. flat comparable sales and GAAP and adjusted EPS of $1.85-2.45. Target now expects GAAP and adjusted EPS of $8.30-8.90 for the full year of 2024.
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The earnings miss and guidance cut caused the stock to plunge over 18% in premarket hours on Wednesday.
Prior performance
