Bath & Body Works, Inc. (BBWI) Tops Q2 EPS by 10c, in-line revenue, offers guidance

Bath & Body Works, Inc. (NYSE: BBWI) reported Q2 EPS of $0.40, $0.07 better than the analyst estimate of $0.33. Revenue for the quarter came in at $1.56 billion versus the consensus estimate of $1.56 billion.

Guidance:

For fiscal 2023, the company expects net sales to decline 1.5% to 3.5% compared to $7.560 billion in 2022. The company now expects full-year 2023 earnings per diluted share to be between $2.85 and $3.15, compared to $3.40 in 2022. The company expects full-year 2023 adjusted earnings per diluted share to be between $2.80 and $3.10. The company’s adjusted earnings per diluted share forecast excludes the gain on the early extinguishment of debt associated with the open market repurchase and retirement of $199 million principal amount of the company’s senior notes through the end of the second quarter.

Fiscal 2023 will include a 53rd week, with the fourth quarter of fiscal 2023 consisting of 14 weeks. The company’s full-year outlook includes the impact of the 53rd week, estimated at 7 cents per diluted share.

The company expects third quarter net sales to decline 2.5% to 4.0% compared to $1.604 billion in the third quarter of 2022. Third quarter earnings per diluted share are expected to be between $0.30 and $0.40, compared to $0.40 earnings per diluted share in the third quarter of 2022.

The company’s third quarter and full-year outlook exclude the impact of any future debt or share repurchase activity.

For earnings history and earnings-related data on Bath & Body Works, Inc. (BBWI) click here.

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