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L Brands Earnings: LB Stock Bumps Up Despite Q1 Miss

L Brands (NYSE:LB) earnings for first quarter of 2020 have LB stock up after markets closed on Wednesday. That’s despite it reporting adjusted losses per share of 99 cents and revenue of $1.65 billion. Both of these easily miss Wall Street’s estimates of a 66-cent loss per share and revenue of $1.82 billion.

L Brands Earnings: LB Stock Bumps Up Despite Q1 Miss
Source: mysirikwan / Shutterstock.com

Now, let’s take a deeper dive into the most recent L Brands earnings report.

  • Adjusted per-share losses are worse off than its adjusted earnings per share (EPS) of 14 cents in the first quarter of 2019.
  • Revenue is sitting 37.3% lower than the $2.63 billion reported in the same period of the year prior.
  • Operating loss of $317.7 million is a poor switch year-over-year from an operating income of $153.35 million.
  • Also included in the L Brands earnings report is a net loss of $296.87 million.
  • That’s nowhere close to the company’s net income of $40.26 million from the same time last year.

L Brands includes the following statement in its current earnings report:

“On May 4, 2020, the company outlined its go-forward strategy to drive long-term shareholder value. As part of this strategy, the company remains committed to establishing Bath & Body Works as a pure-play public company and is taking the necessary steps to prepare the Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK businesses to operate as a separate, standalone company. “

L Brands isn’t providing an outlook for Q2 or the full year of 2020. It cites the novel coronavirus as the reason behind this decision. Many other companies are doing the same during the pandemic.

LB stock was up slightly after-hours Wednesday.

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/2020/05/l-brands-earnings-bump-lb-stock-up/.

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