Bath & Body Works Earnings Topped Estimates. Why the Stock Is Dropping.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The company's profits were better than expected, but the midpoint of its full-year guidance fell short of analyst forecasts.

Bath & Body Works earnings topped analyst expectations but its stock was dropping after the company’s tweaked guidance fell short of forecasts at its midpoint.

The body product and fragrant candle seller reported adjusted earnings of 40 cents a share for its second fiscal quarter, which ended in July, ahead of analyst forecasts for 33 cents, according to FactSet. Revenue of $1.56 billion matched expectations. Bath & Body Works said it expects full-year adjusted earnings per diluted share to be between $2.80 and $3.10. It previously predicted $2.70 to $3.10 a share. At its midpoint of $2.95 a share, that guidance fell short of analyst expectations for $3.04 a share.

The company expects sales to decline 1.5% to 3.5% in 2023 compared with the $7.56 billion reported in 2022. In May, it forecast sales to be flat to down by mid-single digits versus the previous year.Write to Karishma Vanjani at karishma.vanjani@dowjones.com.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Baidu Earnings: BIDU rises 4% following 43% increase in adjusted earningsBaidu (BIDU) stock surged in Tuesday’s premarket following the Chinese search giant’s release of a major earnings beat for the quarter ending June 30
Source: FXStreetNews - 🏆 14. / 72 Read more »