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.
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.