Bath & Body Works Shares Drop 5% on Lowered 2022 Outlook, Q1 Beat Estimates
2022.05.19 01:11
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
