Shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) jumped in today’s trading session after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.84 with revenue of $549.8 million. This beat EPS estimates of $0.79 and revenue estimates by more than $7 million.
In addition, comparable store sales increased by 3% on a year-over-year basis, and the company opened five new stores. This brings the total store tally to 468. Furthermore, adjusted operating income and adjusted EBITDA came in at $66.8 million (16.5% increase) and $77.2 million (16.8% increase), respectively.
Looking forward, management expects adjusted EPS for Fiscal Year 2023 to be in the range of $2.49 to $2.58. For reference, analysts were expecting an adjusted EPS of $2.38. Moreover, revenue is anticipated to come in between $2.036 billion to $2.058 billion versus the consensus forecast of $2 billion.
Nevertheless, Wall Street remains cautious on OLLI stock, with a Hold consensus rating based on two Buys, one Hold, and one Sell assigned in the past three months.
