Burlington Stores Reports Q2 FY2024 Earnings Results on August 24, 2023
August 31, 2023
🌥️Earnings Overview
On August 24, 2023, BURLINGTON STORES ($NYSE:BURL) released their financial results for Q2 of FY2024. Total revenue reached USD 2174.8 million, a rise of 9.4% from the same quarter the previous year. Net income also experienced a notable increase of 158.1%, amounting to USD 30.9 million.
Market Price
This news sent shockwaves through the markets as investors processed the information and reacted accordingly. When the markets opened that morning, the stock price of BURLINGTON STORES opened at $164.7 and closed at $154.8, a drop of 8.9% from its previous closing price of 170.0. This substantial difference in the stock price showed that investors had taken a negative view on the company’s performance, as evidenced by the decrease in share value.
The cause of this decrease is still yet to be determined, as investors wait for more information about the company’s performance to be released. Regardless, this news has undoubtedly caused a stir in the markets and further announcements from Burlington Stores will be eagerly awaited by investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Burlington Stores. More…
| Total Revenues | Net Income | Net Margin |
| 9.1k | 265.62 | 3.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Burlington Stores. More…
| Operations | Investing | Financing |
| 779.07 | -414.4 | -305.26 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Burlington Stores. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.92k | 6.09k | 12.35 |
Key Ratios Snapshot
Some of the financial key ratios for Burlington Stores are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 16.2% | -14.8% | 4.8% |
| FCF Margin | ROE | ROA |
| 3.8% | 33.9% | 3.9% |
Analysis
At GoodWhale, we’ve analyzed the financials of BURLINGTON STORES and have determined that it is a medium risk investment. This conclusion is based on our Risk Rating, which factors in both financial and business aspects. We have also detected one risk warning in the non-financial field, and if you register on goodwhale.com, you can check it out. In order to make the best decision about your investments, we recommend that you explore these components further. More…
Peers
The company offers products and services that are in competition with Ross Stores Inc, Chiyoda Co Ltd, Mr Price Group Ltd, and other companies.
– Ross Stores Inc ($NASDAQ:ROST)
Ross Stores Inc is an American chain of off-price department stores headquartered in Dublin, California, with over 1,400 locations in 37 states. The company’s revenues total more than $15 billion as of 2019, making it the second-largest off-price retailer in the United States behind TJX Companies. Ross Stores typically sells brand name clothing, accessories, footwear, and home décor at prices that are 20% to 60% below department and specialty store regular prices.
– Chiyoda Co Ltd ($TSE:8185)
Chiyoda is a Japanese company that provides engineering and construction services. The company has a market cap of 25.87B as of 2022 and a Return on Equity of -2.63%. Chiyoda has been in business for over 70 years and has completed projects in over 80 countries. The company has a strong focus on the oil and gas industry, but also works in the power, chemicals, and other industries.
– Mr Price Group Ltd ($BER:M5M1)
Mr Price Group Ltd is a South African retail chain that was founded in 1985. The company has a market cap of 2.39B as of 2022 and a ROE of 27.7%. Mr Price Group Ltd operates over 1,000 stores across South Africa, Zimbabwe, Mozambique, Lesotho, Botswana, Namibia, and Swaziland. The company offers a wide range of products including clothing, homeware, and cosmetics.
Summary
Investors in Burlington Stores had a mixed reaction to the company’s Q2 fiscal 2024 earnings results, released on August 24, 2023. Total revenue increased 9.4% from the prior year to USD 2174.8 million, and net income jumped 158.1% to USD 30.9 million. Despite the positive financial results, stock prices dropped on the same day.
Analysts attribute the drop to investor expectations that may have been higher than what was reported. Going forward, investors should keep an eye on total revenue growth and changes in operating costs to gauge the company’s future performance.
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