Weight Watchers International, Inc. (WTW) Stock Soars on Earnings Beat

WTW shares skyrocketed about 10% after hours

By Karl Utermohlen, InvestorPlace Writer Nov 6, 2017, 6:18 pm EST November 6, 2017

It’s a good day to be a Weight Watchers International, Inc. (NYSE:WTW) investor as the company posted its latest quarterly results after hours Monday, topping expectations.

Weight Watchers International, Inc. (WTW)

The company unveiled earnings of 65 cents per share over its third quarter of fiscal 2017, topping the consensus estimate of 14 cents per share. Revenue came in at $323.7 million, beating Wall Street’s projections of $319.4 million.

“Weight Watchers delivered strong performance across all major geographies in the third quarter, which resulted in high-quality earnings results,” said Mindy Grossman, Weight Watchers President and CEO. ”

She expressed excitement over the coming winter season and the company’s new program, which has garnered high praise and feedback in consumer trials. “We have a tremendous opportunity to continue to evolve Weight Watchers into a global, healthy living brand.”

For the fiscal year, Weight Watchers predicts it will rake in between $1.77 to $1.83 per share, handily beating analysts’ guidance of $1.47 per share. In additional to the new program being rolled out, an improved digital platform has helped the company garner more interest from consumers.

“We are confident our business momentum will continue throughout the balance of the year, and therefore, we are raising our earnings guidance for the full year 2017,” said CEO Nick Hotchkin.

WTW shares were higher about 10% after the bell Monday. The stock has been making a comeback since board member Oprah Winfrey acquired a 10% stake of Weight Watchers late in 2015.

Subscriber Sign in