At Home Scores on Q2 Earnings
At Home Group reported its fiscal second-quarter financial results after the markets closed on Tuesday, and shares rallied early Wednesay.
When At Home Group Inc. (NYSE: HOME) reported its fiscal second-quarter financial results after the markets closed on Tuesday, it posted $0.13 in earnings per share (EPS) on $188.4 million in revenue. The same period from the previous year reportedly had $0.16 in EPS on $156.0 million in revenue.
Only recently did this company enter the market, on August 3. It priced its initial public offering (IPO) at $15 per share, moving over 10 million shares (including the overallotment option).
The net proceeds from the offering totaled $132.9 million, which the company used to repay $130.0 million in principal amount of indebtedness outstanding.
In terms of the outlook for the rest of the fiscal year, management believes that the company is on track to deliver strong top and bottom line results. Its fiscal 2017 outlook assumes that it will deliver 19% to 21% net sales growth, an almost six-fold increase in net income, and a 32% to 40% increase in pro forma adjusted net income.
As for the actual numbers, net sales are expected to be between $738 million and $750 million, and EPS are expected to be in the range of $0.53 to $0.56.
Lee Bird, president and CEO, commented:
The second fiscal quarter marked our ninth consecutive quarter of over 20% net sales growth and our tenth consecutive quarter of positive comparable store sales growth, reflecting the broad consumer appeal of our differentiated, value-oriented brand. This top line performance, coupled with our efficient operating structure and strong execution by our teams, enabled us to deliver EPS of $0.12 and pro forma adjusted EPS of $0.13 while continuing to make planned investments to drive profitable growth.
On the books, At Home’s cash and cash equivalents totaled $8.15 million, up from $6.15 million at the end of the same period of last year.
Shares of At Home were trading up about 6.4% at $13.25. The stock has a consensus analyst price target of $16.76 and a 52-week trading range of $11.58 to $46.48.
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
