Market News

FIVE Drops despite Decent Earnings

Shares of Five Below (NASDAQ:FIVE) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $3.07, which slightly beat analyst expectations of $3.06. Sales increased by 12.4% year-over-year, with revenue hitting $1.12 billion. This beat analysts’ expectations of $1.11 billion.

Five Below opened 48 new stores, ending the quarter with 1,340 stores across 42 states. That’s 12.6% higher than the same time last year. Those stores also sold more, too; comparable sales were up 1.9% in the fourth quarter.

Looking forward, management now expects revenue for Q1 2023 to be in the range of $723 million to $735 million. EPS is expected to be in the range of $0.59 – $0.65. For reference, analysts were expecting $730.25 million in revenue and $0.69 in EPS. As for the full year, management expects revenue between $3.49 billion and $3.59 billion, with 200 new stores opened and comparable sales up between 1% and 4%. EPS is expected between $5.25 and $5.76.

Overall, Wall Street has a consensus price target of $217.35 on Five Below, implying 9.68% upside potential, as indicated by the graphic above.


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