Why KinderCare Learning Stock Flopped on Friday
Friday was not a good school day for early education and child care services provider KinderCare Learning (NYSE: KLC). The company published first-quarter results that slightly beat analyst estimates but revealed a decline in a key business. As a result, investors sold out of the stock on the last trading day of the week, leaving it with an 8% loss.
KinderCare unveiled those figures after market close Thursday, reporting that its revenue bumped 0.6% higher year over year to $672.5 million. By contrast, the company's net income not under generally accepted accounting principles (GAAP) withered to $4.2 million ($0.04 per share) from the year-ago profit of slightly over $27 million.
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Source Fool.com
