Build-A-Bear Workshop (BBW) Tops Q4 EPS by 24c, Misses on Revenue; Offers Guidance

Build-A-Bear Workshop (NYSE: BBW) reported Q4 EPS of $1.57, $0.24 better than the analyst estimate of $1.33. Revenue for the quarter came in at $149.3 million versus the consensus estimate of $150.76 million.

The Company issues the following fiscal 2024 outlook with expectations of delivering growth in total revenues and pre-tax income compared to our 53-week fiscal 2023:

• Total revenue growth on a low-to-mid-single-digit percentage basis
• Pre-tax income growth on a low-single-digit percentage basis

For comparative purposes, the company notes that the additional week in fiscal 2023 was approximately $7 million in total revenues with an estimated 35% flow-through to EBITDA.

For fiscal 2024, as compared to the 2023 non-GAAP 52-week year, the Company expects:

• Total revenue growth on a mid-single-digit percentage basis
• Pre-tax income growth on a mid-single-digit percentage basis

In addition, for fiscal 2024, the Company currently expects:

• Net new unit growth of at least 50 experience locations, through a combination of corporately-managed, partner-operated, and franchised business models
• Capital expenditures in the range of $18 million to $20 million
• Depreciation and amortization in the range of $15 million to $16 million
• Tax rate to approximate 26%, excluding discrete items

For earnings history and earnings-related data on Build-A-Bear Workshop (BBW) click here.

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