Is This the Turnaround L Brands Has Waited For?
Shares of L Brands surged after reported its most recent quarterly results late on Wednesday.
When L Brands Inc. (NYSE: LB) reported its most recent quarterly results after the markets closed on Wednesday, the company said that it had $0.14 in earnings per share (EPS) and $2.63 billion in revenue. That compared with consensus estimates calling for breakeven earnings on $2.56 billion in revenue, as well as the $0.17 per share and $2.63 billion posted in the same period from last year.
During the most recent quarter, comparable sales were flat compared to the quarter ended May 5, 2018. First-quarter comparable sales declined 5% at the Victoria’s Secret segment and increased 13% at Bath & Body Works.
Looking ahead to the 2019 full year, the company expects to see EPS in the range of $2.30 to $2.60, up from the previous range of $2.20 to $2.60. The consensus estimates are $2.39 in EPS and $13.14 billion in revenue for the year.
For the second quarter, L Brands expects to see EPS of $0.15 to $0.20, while consensus estimates call for $0.23, as well as $2.94 billion in revenue.
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Excluding Thursday’s move, L Brands had underperformed the broad markets, with the stock down 16% year to date. Over the past 52 weeks, the stock actually is down close to 37%.
Shares of L Brands were last seen up about 16% at $24.95 on Thursday, in a 52-week range of $21.47 to $38.14. The consensus price target is $30.52.
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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.
