- Burlington press release ( NYSE: BURL ): Q4 Non-GAAP EPS of $2.96 beats by $0.23 .
- Revenue of $2.74B (+5.4% Y/Y) beats by $130M .
- FY23 Outlook:
- Total sales to increase in the range of 12% to 14% including approximately 2% from the 53 rd week, on top of a 7% decrease in Fiscal 2022; this assumes comparable store sales will increase in the range of 3% to 5%, on top of the 13% decrease during Fiscal 2022;
- Capital expenditures, net of landlord allowances, to be approximately $560 million;
- To open 70 to 80 net new stores;
- Depreciation & amortization, exclusive of favorable lease costs, to be approximately $320 million;
- Adjusted EBIT margin rate to increase approximately 80 to 120 basis points versus Fiscal 2022;
- Net interest expense to be approximately $66 million;
- The effective tax rate to be approximately 26%; and
- Adjusted EPS in the range of $5.50 to $6.00 vs consensus $6.62, utilizing a fully diluted share count of approximately 65 million, as compared to Fiscal 2022 diluted EPS of $3.49 and Adjusted EPS of $4.26. This includes an expected benefit from the 53rd week of approximately $0.05 per share
- Q1 Outlook:
- Total sales to increase in the range of 12% to 14%; this assumes comparable store sales will increase in the range of 5% to 7% versus the first quarter of Fiscal 2022;
- Adjusted EBIT margin to increase 120 to 150 basis points versus the first quarter of Fiscal 2022;
- An effective tax rate of approximately 26%; and
- Adjusted EPS in the range of $0.85 to $0.95 vs consensus of $0.85, as compared to $0.24 in diluted EPS and $0.54 in Adjusted EPS last year.
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Burlington Non-GAAP EPS of $2.96 beats by $0.23, revenue of $2.74B beats by $130M