Ollie's (OLLI) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published Mar 19, 2024 03:01AM ET
Updated Mar 19, 2024 07:31AM ET
Ollie's (OLLI) To Report Earnings Tomorrow: Here Is What To Expect
Discount retail company Ollie’s Bargain Outlet (NASDAQ:OLLI) will be announcing earnings results tomorrow before market open. Here's what to expect.
Last quarter Ollie's reported revenues of $480.1 million, up 14.8% year on year, beating analyst revenue expectations by 2.3%. It was a strong quarter for the company, with a solid beat of analysts' revenue and earnings estimates.
Is Ollie's buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Ollie's's revenue to grow 18.1% year on year to $649.2 million, improving on the 9.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.16 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Ollie's's peers in the general merchandise retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Big Lots (NYSE:BIG)'s revenues decreased 7.2% year on year, beating analyst estimates by 0.5% and Nordstrom (NYSE:JWN) reported revenues up 2.3% year on year, exceeding estimates by 0.9%. Big Lots traded flat on the results, and Nordstrom was down 10%.
Read the full analysis of Big Lots's and Nordstrom's results on StockStory.
Investors in the general merchandise retail segment have had steady hands going into the earnings, with the stocks up on average 1% over the last month. Ollie's is down 5.2% during the same time, and is heading into the earnings with analyst price target of $86.3, compared to share price of $75.6.
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Written By: Stock Story
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