Lululemon Athletica (NASDAQ:LULU) stock is running higher on Thursday thanks to the company’s most recent earnings report.
Lululemon kicked off its earnings report for the second quarter of 2021 with an amazing adjusted earnings per share of $1.65. That’s well above Wall Street’s estimate of $1.19 for the quarter. It’s also a solid increase over the company’s adjusted EPS of 74 cents from the same time last year.
Adding to the positive LULU stock news is a revenue of $1.5 billion for Q2 2021. Yet again, this easily smashes analysts’ estimate of $1.33 billion for the period. It also represents a 61% increase year-over-year.
Breaking down those revenue numbers, Lululemon saw a 63% growth in net revenue in North America. When it comes to international revenue, growth was sitting at 49% compared to the same period of the year prior.
Meghan Frank, CFO of Lululemon Athletica, said this in the earnings report sending LULU stock higher.
‘Our performance in Q2 was driven by a strong response to our product offering, improving productivity in our stores, and sustained strength in e-commerce. While we continue to navigate the COVID-19 environment, including supply chain headwinds, I’m excited with our momentum as we head into the second half of the year and pleased to be able to increase our guidance.”
Lululemon’s new guidance is nothing to scoff at. The company is expecting adjusted earnings per share ranging from $7.38 to $7.48 on revenue of $6.19 billion to $6.26 billion. For comparison, Wall Street is looking for an adjusted EPS of $6.91 on revenue of $5.94 billion in 2021.
LULU stock was up 11.8% as of noon Thursday and is up 19.6% year-to-date.
Investors looking for more market news today will want to keep reading.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.