Buckle Q2: Earnings Beat, 3% Topline Decline, Comps Down & More
Portfolio Pulse from Nabaparna Bhattacharya
Buckle, Inc. (NYSE:BKE) reported a 3.2% YoY decrease in Q2 FY23 sales to $292.43 million, beating the analyst consensus of $290.36 million. Comparable store net sales and online sales also fell by 3.3% and 5.6% respectively. Gross profit fell 4.8% YoY to $138.41 million, and operating income decreased 13.6% to $56.76 million. Net income was $45.6 million, lower than $50.1 million a year ago. EPS of $0.92 beat the analyst consensus of $0.81.
August 18, 2023 | 1:05 pm
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Buckle's Q2 FY23 sales and profits fell YoY but beat analyst expectations. The company's net income was lower than last year but EPS beat expectations.
Despite the YoY decrease in sales and profits, Buckle managed to beat analyst expectations, which could have a neutral impact on the stock. The lower net income could be a concern for investors, but the beat on EPS could offset this.
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RELEVANCE 100