5 Companies Making Headlines on Earnings Reports

3. Bath & Body Works, Inc. (NYSE:BBWI)

Number of Hedge Fund Holders: 62

Bath & Body Works, Inc. (NYSE:BBWI) recently announced better-than-expected financial results for its fiscal first quarter. However, the company trimmed its profit outlook for the full year. As a result, its shares hit a new 52-week low of $38.35 on Thursday, May 19, 2022.

The Ohio-based specialty retailer reported adjusted earnings of 64 cents per share, compared to 60 cents per share in the year-ago period. In addition, Bath & Body Works, Inc. (NYSE:BBWI) posted revenue of $1.45 billion, down 1 percent on a year-over-year basis. Nevertheless, the results exceeded the consensus of 53 cents per share for earnings and $1.43 billion for revenue.

For its fiscal 2022, Bath & Body Works, Inc. (NYSE:BBWI) expects earnings in the range of $3.80 – $4.15 per share, down from its previous guidance between $4.30 – $4.70 per share.

Speaking on the results, CEO Sarah Nash said in a statement:

“Looking ahead in 2022, we are continuing to plan prudently and use our agility to chase winners. We are accelerating investments in the business to drive our long-term growth, while at the same time, our team continues to successfully navigate the inflationary environment.”