Bath & Body Works Shares Drop 5% on Lowered 2022 Outlook, Q1 Beat Estimates

Bath & Body Works, Inc. (NYSE: BBWI) shares were trading more than 5% lower after-hours despite the company’s Q1 EPS of $0.64 coming in better than the consensus estimate of $0.50.

Revenue declined 1% year-over-year to $1.45 billion, beating the consensus estimate of $1.38 billion. Excluding the estimated Q1/21 benefit of $50 million related to government stimulus payments, revenue grew 2% year-over-year.

The company expects Q2 diluted EPS in the range of $0.60-$0.65. For the full 2022-year, the company expects diluted EPS in the range of $3.80-$4.15, lower than its previous guidance of $4.30-$4.70.

Shares of Bath & Body Works were down 39% year-to-date going into the results.

By Davit Kirakosyan

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