The most recent Burlington Stores earnings report sent BURL stock soaring on Wednesday.
Burlington Stores (NYSE:BURL) starts off its earnings report for the third quarter of 2018 with earnings per share of $1.21. This is up from the company’s earnings per share of 70 cents from the same time last year. It was also good news for BURL stock by beating out Wall Street’s earnings per share estimate of $1.06 for the quarter.
The Burlington Stores earnings report for the third quarter of the year also includes net income of $76.85 million. This is better than the company’s net income of $44.88 million reported in the third quarter of 2017.
Revenue in the Burlington Stores earnings report for the third quarter of 2018 came in at $1.64 billion. The department store retailer reported revenue of $1.44 billion in the same period of the year prior. This is a boon to BURL stock as analysts were expecting revenue of $1.60 billion for the period.
Burlington Stores also took time during its earnings report for the third quarter of the year to update its outlook. The company says that it is now expecting earnings per share for the year to range from $6.33 to $6.37. This is an increase from its previous earnings per share outlook range of $6.13 to $6.20. It is also a blessing to BURL stock by sitting above Wall Street’s earnings per share estimate of $6.24 for the full year of 2018.
BURL stock was up 12% as of Wednesday afternoon and is up 21% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.