L Brands (LB) Stock Up in After-Hours Trading on Q3 Earnings Beat
NEW YORK (TheStreet) -- L Brands (LB) - Get Report stock is climbing 0.29% to $92.50 in after-hours trading on Wednesday following the company's third quarter 2015 financial results that topped analysts' profit forecasts, but missed on sales.
For the quarter ended October 31, the company earned 55 cents a share on revenue of $2.48 billion.
Analysts had expected the company to earn 52 cents a share on revenue of $2.49 billion.
In the same period a year ago, the company earned 44 cents a share on revenue of $2.32 billion.
"We delivered record results in the third quarter," CEO Leslie H. Wexner stated. "Our brands are differentiated and have high emotional content and we continue to deliver new, compelling merchandise in an exciting in-store experience."
Overall, the company saw a 7% year-over-year increase in comparable store sales.
Looking ahead, the company said it predicts fourth quarter 2015 earnings to come in between the range of $1.85 to $1.95 a share.
L Brands also lifted its full years earnings outlook to between the range of $3.69 to $3.79 a share, above its previous expectations of $3.58 to $3.73 a share.
Based in Columbus, OH, L Brands owns chain stores including Victoria's Secret and Bath & Body Works.
Separately, TheStreet Ratings team rates L BRANDS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate L BRANDS INC (LB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, revenue growth and expanding profit margins. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: LB
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