Bath & Body Works Boosts FY24 Outlook As Q1 Results Top Estimates
(RTTNews) - Home fragrance company Bath & Body Works, Inc. (BBWI) reported Tuesday that net income for the first quarter grew to $87 million or $0.38 per share from $81 million or $0.35 per share in the prior-year quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter edged down 0.9 percent to $1.38 billion from $1.40 billion in the same quarter last year. Analysts expected revenue of $1.37 billion for the quarter.
Looking ahead to the second quarter, the company expects earnings in a range of $0.31 to $0.36 per share on revenues between a decline of 2 percent and flat from last years $1.56 billion, implying revenues between $1.49 billion and $1.56 billion.
Analysts expect the company to report earnings of $0.39 per share on revenues of $1.54 billion for the quarter.
For fiscal 2024, the company now projects earnings in a range of $3.05 to $3.35 per share on revenues between a decline of 2.5 percent and flat from last years $7.43 billion, implying revenues between $7.28 billion and $7.43 billion.
Previously, the company expected earnings in a range of $3.00 to $3.35 per share on revenues between a decline of 3.0 percent and flat.
The Street is looking for earnings of $3.31 per share on revenues of $7.40 billion for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Bay Street Likely To Open On Negative Note
Pound Falls Following BoE Rate Cut
Pound Falls Against Majors
Sensex, Nifty End Marginally Lower
Richemont H1 Profit Hits On Weak China Demand; Stock Dips
European Shares Slide As China Approves $838bn Debt Swap
FTSE 100 Drifts Lower In Lackluster Trade
