News Formal

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%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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
Källa: FXStreetNews - 🏆 14. / 72 Läs mer »