The first bit of positive news for holders of LULU stock is the company’s adjusted earnings per share (EPS) of $2.20. That’s better than the $1.87 per share that Wall Street had predicted. It’s also much better than the $1.65 per share reported in the same period the year prior.
Adding to that is the athletic wear company’s revenue of $1.87 billion. Yet again, that comes in above the $1.77 billion in revenue analysts had expected. It also represents a 29% increase from the $1.45 billion reported in Q2 2021.
LULU’s Future Looks Bright
Lululemon CEO Calvin McDonald said the following in the earnings report:
“The momentum in our business continued in the second quarter, fueled by strong guest response to our product innovations, community activations, and omni experience […] As we look ahead, we’re excited about our ability to successfully deliver against our Power of Three ×2 growth plan and create ongoing value for all our stakeholders.”
Backing up that statement is the company’s updated outlook for 2022. This has LULU expecting adjusted EPS to range from $9.75 to $9.90 per share on revenue of between $7.86 billion and $7.94 billion. To put that in perspective, Wall Street estimates EPS of $9.44 per share on revenue of $7.7 billion for the year.
LULU stock is up about 10% alongside heavy trading on Friday morning.
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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.