L Brands (NYSE:LB) earnings for the owner of Bath & Body Works and Victoria’s Secret’s second quarter of 2020 have LB stock on the rise after-hours Wednesday. That’s thanks to its adjusted earnings per share of 25 cents beating out Wall Street’s estimate for a 42-cent loss. The company’s revenue of $2.32 billion also comes in above analysts’ estimate of $2.21 billion.
Here are some additional highlights from the most recent L Brands earnings report.
- Adjusted per-share earnings are up 4.2% from the 24 cents reported during the same time last year.
- Revenue for the quarter comes in 20% lower than the $2.9 billion reported in the second quarter of 2019.
- Operating income of $44.04 million is a 74.8% decline year-over-year from $174.6 million.
- The L Brands earnings report also has net loss coming in at $49.6 million.
- That’s a negative switch compared to the company’s net income of $37.6 million in the same period of the year prior.
L Brands includes the following in its current earnings report.
“Total Bath & Body Works second quarter sales in the United States and Canada were $1.197 billion, an increase of 13 percent compared to $1.061 billion last year. Sales at the Bath & Body Works direct business, which remained open throughout the quarter, increased by 191 percent to $518.6 million compared to $178.4 million last year.”
LB doesn’t include guidance in its earnings report. That’s likely due to the novel coronavirus disrupting retailers. Many other companies are withholding outlooks during the pandemic.
LB stock was up 3.2% after markets closed on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
