Burlington's Bold Beat: Q1 Earnings Outshine Amid Market Uncertainties
Portfolio Pulse from Akanksha Bakshi
Burlington Stores (NYSE:BURL) reported better-than-expected Q1 fiscal 2024 results, with revenue, EPS, and gross margin all surpassing consensus estimates. The company also revised its full-year earnings guidance upwards, leading to a 17.3% increase in its stock price.
May 30, 2024 | 1:35 pm
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Burlington Stores reported strong Q1 fiscal 2024 results, with revenue growing 10.5% YoY to $2.361 billion, beating the consensus of $2.34 billion. Adjusted EPS rose to $1.35 from $0.84 YoY, surpassing the consensus of $1.04. The company also revised its full-year earnings guidance upwards, leading to a 17.3% increase in its stock price.
The strong Q1 results, including revenue and EPS beating consensus estimates, and the upward revision of full-year earnings guidance, are likely to positively impact Burlington's stock price in the short term.
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