CORRECTION: Burlington Stores Q3 Adj EPS $0.98 Misses $0.99 Estimate, Sales $2.29B Miss $2.31B Estimate
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores (NYSE:BURL) reported Q3 adjusted earnings per share (EPS) of $0.98, slightly missing the consensus estimate of $0.99. Quarterly sales were $2.29 billion, narrowly missing the estimate of $2.31 billion. Despite these misses, the company saw a significant increase in earnings and sales compared to the same period last year, with earnings up 127.91% and sales up 12.15%.
November 21, 2023 | 2:43 pm
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NEUTRAL IMPACT
Burlington Stores reported a slight miss in Q3 earnings and sales, but showed strong year-over-year growth. EPS was up 127.91% and sales increased by 12.15% compared to last year.
While Burlington Stores missed EPS and sales estimates by narrow margins, the substantial year-over-year growth in both earnings and sales could mitigate any negative short-term impact on the stock price. Investors may view the growth rates as a positive sign, despite the slight miss. However, some investors may react negatively to the earnings miss, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100