Stamps.com Inc. (NASDAQ: STMP) reported its second-quarter financial results after the markets closed on Wednesday. It’s worth pointing out that this company was absolutely crushed in the first quarter after it terminated its deal with the U.S. Post Office. While Stamps.com might still be down on the year, this quarter very well could be the turning point for the company.
The firm said that it had $1.25 in earnings per share (EPS) and $138.8 million in revenue in the latest quarter, compared with consensus estimates of $0.96 in EPS and $128.35 million in revenue. The same period of last year reportedly had $2.75 in EPS and $139.63 million in revenue.
Second-quarter Mailing and Shipping revenue was increased 1% year over year to $135.6 million. Customized Postage revenue was $3.1 million, down 40% from last year.
Looking ahead to the 2019 fiscal full year, the company expects to see EPS in the range of $3.60 to $4.85 and total revenue between $520 million and $560 million. The consensus estimates are for $3.96 in EPS and $526.9 million in revenue for the year.
Ken McBride, board chair and chief executive, commented:
During the second quarter we continued to make progress on our efforts to evolve our strategy to more fully embrace a global multi-carrier business model. Our financial results for the second quarter were in-line with our expectations in light of our new strategic direction.
Shares of Stamps traded up about 18% on Thursday to $54.59, in a 52-week range of $32.54 to $257.75. The consensus price target is $52.00. Excluding Thursday’s move, the stock was down about 70% year to date.
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