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L Brands Earnings: LB Stock Heading 3% Higher on Mixed Q3 Report

L Brands (NYSE:LB) earnings for the Victoria’s Secret owner’s third quarter of 2019 have L stock up in after-hours trading on Wednesday. The company reported adjusted earnings per share of 2 cents on revenue of $2.68 billion. For comparison, Wall Street was expecting 2 cents per share and $2.69 billion in revenue.

L Brands Earnings: LB Stock Heading 3% Higher on Mixed Q3 Report

Source: JHVEPhoto / Shutterstock.com

Let’s take a more thorough look at the most recent L Brands earnings report.

  • Adjusted per-share earnings are down 87.50% from the 16 cents reported in the same period of the year prior.
  • Revenue is sitting 3.25% lower compared to $2.77 billion in Q3 2018.
  • Operating loss for the quarter is a drop from operating income in the third quarter of the previous year.
  • The L Brands earnings report also sees net loss come in at -$251.99 million.
  • That’s 489.45% worse than the company’s net loss of -$42.75 million reported during the same time last year.

The L Brands earnings report also includes an update to its 2019 outlook. The company says it now expects adjusted EPS for the period to come in at about $2.40. This bodes well for L stock when compared to Wall Street’s estimate of $2.39 for the year.

L Brands will be holding a conference call on Thursday to go over the results. Investors can tune in at 9:00  a.m. Eastern Time to hear what LB leaders have to say about the current earnings report.

LB stock finished out the day down 6.98%. However, the stock is up 3.90% in after-hours trading.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/11/l-brands-earnings-boost-lb-stock/.

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