Burlington Stores Introduces FY24 Outlook For Adjusted EPS Of $7.00-$7.60, Est $7.08
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores has provided its FY24 outlook, projecting an adjusted EPS of $7.00-$7.60, which is around the estimated $7.08. This forecast does not include $0.11, net of tax, of expected expenses related to the acquired Bed Bath & Beyond leases, with an assumption of a fully diluted share count of approximately 64 million shares.
March 07, 2024 | 11:49 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Burlington Stores projects an adjusted EPS of $7.00-$7.60 for FY24, excluding expenses from the acquisition of Bed Bath & Beyond leases.
The guidance provided by Burlington Stores indicates a positive outlook for FY24, closely aligning with analyst estimates. The exclusion of expenses from the Bed Bath & Beyond leases acquisition suggests a strategic move to enhance profitability. Given the specificity of the EPS range and the strategic acquisition, this news is likely to be viewed positively by investors, potentially leading to a short-term uptick in BURL's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100