DXLG - Destination XL beats Q4 top and bottom line estimates; initiates FY23 outlook
2023-03-16 07:33:16 ET
- Destination XL press release ( NASDAQ: DXLG ): Q4 GAAP EPS of $0.13 beats by $0.03 .
- Revenue of $143.9M (+7.8% Y/Y) beats by $4.25M .
- Comparable sales for the fourth quarter increased 10.8% as compared to the fourth quarter of fiscal 2021.
- Adjusted EBITDA, a non-GAAP measure, was $14.2 million for the fourth quarter as compared to $14.3 million for the fourth quarter of fiscal 2021.
- Outlook: As we head into fiscal 2023, we are maintaining our sales growth orientation as we build off the sales momentum from the past two years. Despite the macro-economic challenges and uncertainties regarding consumer spending and how that might impact sales demand, we believe our expectations for fiscal 2023 are appropriately balanced.
Our guidance for fiscal 2023, based on a 53-week year, is: Sales of $550.0 - $570.0 million vs. consensus of $566.27M; Net income of $41.0 - $47.0 million; Adjusted EBITDA margin of 12.5% - 13.5%.
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Destination XL beats Q4 top and bottom line estimates; initiates FY23 outlook