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Burlington (BURL) Q3 Earnings: What To Expect

StockStory - Mon Nov 20, 2023

BURL Cover Image

Off-price retail company Burlington Stores (NYSE:BURL) will be reporting earnings tomorrow before market open. Here's what investors should know.

Last quarter Burlington reported revenues of $2.17 billion, up 9.4% year on year, in line with analyst expectations. It was a strong quarter for the company, with an impressive beat of analysts' earnings estimates and optimistic earnings guidance for the next quarter.

Is Burlington buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Burlington's revenue to grow 12.6% year on year to $2.30 billion, improving on the 11.4% year-over-year decline in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.98 per share.

Burlington Total Revenue

The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing seven downward revisions over the last thirty days.The company missed Wall St's revenue estimates five times over the last two years.

Looking at Burlington's peers in the apparel and footwear retail segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Ross Stores delivered top-line growth of 7.9% year on year, beating analyst estimates by 1.8% and TJX reported revenues up 9% year on year, exceeding estimates by 1.4%. Ross Stores traded up 4.6% on the results, TJX was down 2.6%.

Read our full analysis of Ross Stores's results here and TJX's results here.

There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 8% over the last month. Burlington is up 15.9% during the same time, and is heading into the earnings with analyst price target of $180.6, compared to share price of $136.98.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.