{"id":171443,"date":"2023-02-23T13:56:54","date_gmt":"2023-02-23T13:56:54","guid":{"rendered":"https:\/\/precoinnews.com\/?p=171443"},"modified":"2023-02-23T13:56:54","modified_gmt":"2023-02-23T13:56:54","slug":"bath-body-works-q4-profit-down-yet-tops-estimates-warns-on-q1-fy23-stock-down-in-pre-market","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/economy\/bath-body-works-q4-profit-down-yet-tops-estimates-warns-on-q1-fy23-stock-down-in-pre-market\/","title":{"rendered":"Bath & Body Works Q4 Profit Down, Yet Tops Estimates; Warns On Q1, FY23; Stock Down In Pre-market"},"content":{"rendered":"
Personal care and home fragrance company Bath & Body Works, Inc. (BBWI) reported Thursday that its fourth-quarter net income from continuing operations was $428.2 million, compared to $592.6 million last year.<\/p>\n
Earnings from continuing operations per share was $1.86, lower than $2.27 a year ago. The prior year’s adjusted net income from continuing operations was $599.7 million or $2.30 per share.<\/p>\n
On average, 19 analysts polled by Thomson Reuters expected earnings of $1.62 per share for the quarter. Analysts’ estimates typically exclude special items. <\/p>\n
The company reported net sales of $2.89 billion, a decrease of 5 percent from last year’s $3.03 billion. Analysts expected sales of $2.8 billion.<\/p>\n
Looking ahead, the company expects first-quarter earnings from continuing operations to be between $0.17 and $0.27 per share, down from prior year’s $0.64 per share. Analysts expect first-quarter earnings of $0.44 per share.<\/p>\n
First-quarter net sales are projected to decline low- to mid-single digits compared to $1.450 billion in 2022.<\/p>\n
Further, for fiscal 2023, the company is forecasting earnings from continuing operations per share to be between $2.50 and $3.00, compared to $3.40 in 2022. Analysts expect full-year earnings of $3.64 per share.<\/p>\n
The company is expecting flat net sales to a mid-single digit decline compared to $7.560 billion in 2022.<\/p>\n
In pre-market activity on the NYSE, the shares were losing around 4 percent to trade at $40.36.<\/p>\n
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com. <\/p>\n