2023-05-25 07:39:39 ET
Build-A-Bear Workshop ( NYSE: BBW ) stock slid sharply on Thursday after falling short of Q1 expectations.
The St. Louis-based company reported $0.98 in earnings per share on $120.1M in revenue. Despite the note of the quarterly EPS being a record for Q1, analysts had anticipated a bit more, setting estimates at $1.01 in earnings per share on $124.24M in sales.
“Following our record-breaking performance in fiscal 2022, where we posted the highest annual profit in our company’s 25-year history, we are pleased to be on track for another record-breaking year, reporting our best-ever first quarter EPS,” CEO Sharon Price John said. “The positive momentum has continued into the second quarter, and we are reiterating our annual guidance.”
The guidance includes the expectation of a 5% to 7% increase in revenue as compared to fiscal 2022, suggesting downside risk to the 6.24% analyst consensus. Pre-tax income growth of 10% to 15% to a record level was also projected as the company seeks to open 20 to 30 new locations.
Shares of Build-A-Bear Workshop ( BBW ) fell as much as 14% in premarket action on thin volume.
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Build-A-Bear stock slides on earnings miss