Ollie’s Bargain Outlet Earnings: OLLI Stock Climbs 11% on Q3 Beat

Ollie’s Bargain Outlet (NASDAQ:OLLI) earnings for the retail company’s third quarter of 2019 have OLLI stock heading higher after markets closed Tuesday. This is thanks to an adjusted EPS of 41 cents on revenue of $327.05 million. These are both better than Wall Street’s estimates of 38 cents per share and $322.53 million.

Ollie's Bargain Outlet Earnings: OLLI Stock Climbs 11% on Q3 Beat

Source: George Sheldon / Shutterstock.com

Let’s see what else went on in the most recent Ollie’s Bargain Outlet earnings report.

  • Adjusted per-share earnings for the quarter are up 28.12% from 32 cents in the third quarter of 2018.
  • Revenue is 15.32% higher than the $283.61 million reported during the same time last year.
  • Operating income of $35.73 million is 21.99% higher YoY than $29.29 million.
  • The Ollie’s Bargain Outlet earnings report also has net income coming in at $26.96 million.
  • That’s an 8.62% boost over the company’s net income of $24.82 million from the same period of the year prior.

John Swygert, the new President and CEO of Ollie’s Bargain Outlet, says this about the OLLI stock earnings.

“Our profound sadness at the unexpected passing of our founder and friend, Mark Butler, eclipses the results we posted in the third quarter. Undoubtedly, Mark was a driving force in building Ollie’s, creating an exceptional business model and developing a strong and highly competent leadership team.”

The Ollie’s Bargain Outlet earnings report also includes its outlook for 2019. That covers adjusted earnings per share ranging from $1.95 to $2.00 on revenue between $1.419 billion and $1.430 billion. For comparison, Wall Street is expecting $1.96 per share and $1.43 billion.

OLLI stock was up 11.11% in after-hours trading on Tuesday.

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/2019/12/ollies-bargain-outlet-earnings-boost-olli-stock/.

©2021 InvestorPlace Media, LLC