Williams-Sonoma (WSM) Tops Q1 EPS by 2c, Revenues In-Line; Offers FY17 Guidance

Williams-Sonoma (NYSE: WSM) reported Q1 EPS of $0.51, $0.02 better than the analyst estimate of $0.49. Revenue for the quarter came in at $1.11 billion versus the consensus estimate of $1.11 billion.

GUIDANCE:

Williams-Sonoma sees FY2017 EPS of $3.45-$3.65, versus the consensus of $3.54. Williams-Sonoma sees FY2017 revenue of $5.165-5.265 billion, versus the consensus of $5.2 billion.

1st QUARTER 2017 RESULTS

• Q1 17 net revenues grew 1.2% to $1.112 billion versus $1.098 billion in Q1 16 with comparable brand revenue growth of 0.1%.
• Q1 17 operating margin was 5.6% versus 5.8% in Q1 16. Excluding certain items affecting comparability, non-GAAP operating margin was 6.1% in Q1 17 and 7.0% in Q1 16 (see Notes 1 and 2 in Exhibit 1). See Exhibit 1 for a reconciliation of GAAP to non-GAAP operating margin.
• Q1 17 diluted earnings per share (“EPS”) was $0.45 versus $0.44 in Q1 16. Excluding certain items affecting comparability, non-GAAP EPS was $0.51 in Q1 17 and $0.53 in Q1 16 (see Notes 1–3 in Exhibit 1). See Exhibit 1 for a reconciliation of GAAP to non-GAAP EPS.
• Cash returned to stockholders totaled $72 million, comprising $38 million in stock repurchases and $34 million in dividends.

For earnings history and earnings-related data on Williams-Sonoma (WSM) click here.

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