Company news: lululemon athletica’s (LULU) quarterly results beat analysts’ estimates

lululemon athletica (LULU) reported Q1 FY2024 earnings of $2.54 per share (versus $2.28 per share in Q1 FY2023), beating analysts’ consensus estimate of $2.40 per share.

The company’s quarterly revenues amounted to $2.209 bln (+10.4% y/y), slightly beating analysts’ consensus estimate of $2.199 bln.

The company also issued downside guidance for Q2 FY2024, seeing EPS of $2.92-2.97 versus analysts’ consensus estimate of $3.03 and revenues of $2.40-2.42 bln versus analysts’ consensus estimate of $2.45 bln.

For the full FY2024, lululemon athletica projects EPS of $14.27-14.47 (up from its prior guidance of $14.00-14.20) versus analysts’ consensus estimate of $14.13 and revenues of $10.7-10.8 bln versus analysts’ consensus estimate of $10.76 bln.

In addition, the company authorized a $1.0 bln increase in its stock repurchase program.

LULU rose to $332.00 (+7.70%) in pre-market trading.