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.

The earnings miss and guidance cut caused the stock to plunge over 18% in premarket hours on Wednesday.  

Prior performance

The post TGT Earnings: All you need to know about Target’s Q3 2024 earnings results first appeared on AlphaStreet.