5 Companies That Topped Profit Expectations

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

Number of Hedge Fund Holders: 62

Shares of Bath & Body Works, Inc. (NYSE:BBWI) closed higher on Thursday, February 24, 2022, after posting its fourth-quarter profit and sales above expectations. The Ohio-based retail store chain reported adjusted earnings of $2.30 per share, up 17 percent from the same period of 2020.

Revenue for the quarter also surged 11 percent on a year-over-year basis to $3.027 billion. Analysts were expecting Bath & Body Works, Inc. (NYSE:BBWI) to earn $2 per share on revenue of $2.64 billion.

Bath & Body Works, Inc. (NYSE:BBWI) also issued its profit outlook for Q1 and FY 2022. It expects earnings in the range of 47 – 55 cents per share for the current quarter and between $4.30 – $4.70 for the full year.

Discussing the results, CEO Andrew Meslow said:

“We are very pleased to have delivered record sales and earnings results for both the fourth quarter and full-year 2021, particularly given the continued dynamic operating environment. Our confidence in the business and our positive momentum is reflected in the Board’s recent authorization of a new $1.5 billion share repurchase program and 33 percent increase to our annual dividend.”