CORRECTION: Burlington Stores Q3 Adj $1.10 Beats $0.99 Estimate, Sales $2.29B Miss $2.31B Estimate
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores (NYSE:BURL) reported Q3 adjusted earnings of $1.10 per share, surpassing the consensus estimate of $0.99, a 155.81% increase from last year. However, sales of $2.29B fell short of the $2.31B estimate, though they were up 12.15% from the previous year.
November 21, 2023 | 3:07 pm
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NEUTRAL IMPACT
Burlington Stores exceeded Q3 EPS estimates but missed on revenue, indicating mixed financial performance which could lead to volatile stock movement.
Beating earnings estimates typically has a positive effect on stock price, while missing revenue estimates can have a negative impact. The combination of both may lead to short-term volatility as the market digests the mixed signals. The significant increase in earnings YOY and a solid increase in sales, despite missing estimates, may cushion any negative impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100