LB - L Brands Posts Mixed Q4 Results Offers Upbeat Earnings Guidance
Enjoying what appears to be a new lease on life after years of troubles, L Brands (NYSE: LB) , parent company of Victoria's Secret and Bath & Body Works, reported a profitable fourth quarter today. While the company's revenue missed the Wall Street consensus estimate of $4.95 billion reported by Zacks Equity Research, registering $4.82 billion in revenue and thus delivering a negative 2.6% surprise, net sales still rose 2.3% year over year from $4.71 billion.
L Brands shines on earnings in today's report, however. Net income reached a positive $860 million this year, a huge jump from last year's $192 million net loss. Adjusted earnings per share (EPS) skyrocketed 61% year over year from $1.88 to $3.03 for the quarter, and also marginally beat analyst forecasts with a 1.3% positive surprise.
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L Brands Posts Mixed Q4 Results, Offers Upbeat Earnings Guidance