Burlington Stores Inc (NYSE:BURL) stock was up today after it reported earnings for the second quarter of 2017 that were above estimates.
Burlington Stores Inc reported earnings per share of 72 cents for the second quarter of the year. This is a massive improvement over its earnings per share of 39 cents from the same time last year. It also helps out BURL stock by coming in way above Wall Street’s earnings per share estimate of 51 cents for the quarter.
Revenue of $1.37 billion for the second quarter of 2017 was also a boon to BURL stock. It is higher than the company’s revenue of $1.26 billion that it reported in the second quarter of 2016. At the same time, it also comes in above analyst’s revenue estimate of $1.35 billion for the second quarter of the year.
Burlington Stores Inc reported a net income of $46.90 million in its second quarter of 2017. The apparel company reported net income of $20.39 million in the same period of the year prior.
Burlington Stores Inc also released its guidance for the third quarter of 2017 in its most recent earnings report. BURL is expecting earnings per share for the quarter to range from 58 cents to 61 cents. Wall Street is looking for earnings per share of 59 cents for the third quarter of the year.
BURL has also updated its outlook for the full year of 2017 in its earnings report for the second quarter of the year. It now expects earnings per share for the year to come in between $4.11 and $4.18. It was previously expecting earnings per share for the year to range from $3.86 to $3.96. Analysts are estimating earnings per share of 3.97 for the period.
BURL stock was up 4% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.