Build-A-Bear Workshop (BBW) Tops Q3 EPS by 2c

Build-A-Bear Workshop (NYSE: BBW) reported Q3 EPS of $0.53, $0.02 better than the analyst estimate of $0.51. Revenue for the quarter came in at $107.6 million versus the consensus estimate of $108.83 million.

2023 Outlook

The Company is revising its fiscal 2023 outlook with continued expectations of delivering growth in total revenues and pre-tax income, as compared to fiscal year 2022.

For fiscal 2023, the Company expects:

• Total revenues to increase in the range of 3% to 5%, with growth in its three operating segments, as compared to the previous range of 5% to 7% growth
• Pre-tax income growth of 5% to 10%, surpassing 2022’s record high, as compared to the previous range of 10% to 15% growth
• To open approximately 30 experience locations, through a combination of partner-operated and corporately-managed business models, as compared to previous guidance to open 20 to 30 locations
• Capital expenditures in the range of $16 million to $18 million, as compared to the previous range of $15 million to $20 million
• Depreciation and amortization of approximately $13 million, as compared to the previous range of $13 million to $14 million
• Tax rate to approximate 25%, excluding discrete items

For earnings history and earnings-related data on Build-A-Bear Workshop (BBW) click here.

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