Williams-Sonoma Stock Skyrockets on Q2 EPS Beat

William-Sonoma (NYSE:WSM) had a strong hump day as the company reported its latest quarterly earnings results late in the day, which topped what analysts were calling for in the profit and revenue fronts, sending shares skyrocketing after hours.

Williams-SonomaThe appliance maker said that for its second quarter of 2018, it brought in adjusted earnings of 77 cents per share, which was stronger than the 69 cents per share that analysts were calling for, according to data compiled by Zacks Investments Research in a survey. The figure also marked a 28% increase compared to its year-ago adjusted profit.

Williams-Sonoma added that its second quarter yielded revenue of $1.275 billion, which was stronger than the $1.26 billion that analysts were calling for, according to Zacks. The figure was also more than 5% higher than its sales from the year-ago quarter.

The company added that its same-store sales were up by 4.6% compared to the year-ago quarter, ahead of the 4.1% growth projection that analysts were calling for, according to Consensus Metrix. Plus, Williams-Sonoma’s e-commerce net revenue growth now amounts to 53.9% of its total net revenue.

The company now sees its profit as being in the range of $4.26 to $4.36 per range, ahead of its previous guidance of $4.15 to $4.25 per share. It also forecasts revenue in the range of $5.565 billion to $5.665 billion, ahead of its previous outlook of $5.495 billion to $5.655 billion in sales.

WSM stock was up about 3.9% during regular trading hours Wednesday in anticipation of the company’s quarterly earnings results. The earnings and revenue beat sent its shares up about 9.1% after the bell.

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/williams-sonoma-wsm/.

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