Boot Barn Holdings (BOOT) Tops Q3 EPS by 3c

Boot Barn Holdings (NYSE: BOOT) reported Q3 EPS of $0.46, $0.03 better than the analyst estimate of $0.43. Revenue for the quarter came in at $224.7 million, versus $212.7 million reported last year.

Fiscal Year 2018 Outlook

For the fiscal fourth quarter ending March 31, 2018 the Company expects:

• Same store sales growth of 4.0% to 5.0%.
• Income from operations between $8.3 million and $8.6 million, which includes an estimated $0.3 million of secondary offering costs.
• Net income of $4.2 million to $4.5 million, which is based on a blended tax rate of 5.8% for the quarter. The Company’s effective tax rate of 36.2% is expected to be further reduced by an estimated tax benefit of $1.4 million, or $0.05 per share, related to stock option exercises made primarily in conjunction with the secondary offering that closed on January 22, 2018. Net income also includes the estimated pre-tax secondary offering costs of $0.3 million, or approximately $0.01 per share.
• Net income per diluted share of $0.15 to $0.16 based on 28.4 million weighted average diluted shares outstanding.

For the fiscal year ending March 31, 2018, the Company now expects:

• To open 10 new stores, including the acquisition of the four Wood’s Boots stores.
• Income from operations between $43.2 million and $43.5 million, which includes an estimated $0.3 million of secondary offering costs.
• Net income between $26.2 million and $26.5 million, which includes a $6.8 million tax benefit from the revaluation of deferred tax liabilities and an updated annual tax rate pursuant to tax reform.
• Net income per diluted share of $0.95 to $0.96 based on 27.7 million weighted average diluted shares outstanding compared to the Company’s November 2, 2017 outlook of $0.57 to $0.61 which assumed 27.2 million weighted average diluted shares outstanding.

For earnings history and earnings-related data on Boot Barn Holdings (BOOT) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Middleby board approves spin-off of food processing unit Midera
• Goldman reinstates Estee Lauder rating, sees turnaround driving growth and margins