Boot Barn Holdings Inc Down 10.83% To $62.57 After Earnings Beat

Boot Barn Holdings Inc (BOOT) said after close Wednesday that it earned $1.26 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $365.9 million, missing estimates by $1 million.

In the same quarter a year ago, the company earned $1.26 per share on revenue of $306.3 million.

The stock is down 10.83% to $62.57 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Boot Barn Holdings Inc has performed a little below average during the past few months. Before the report, Boot Barn Holdings Inc received a Long-Term Technical Rank by InvestorsObserver of 47, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $63.56 on July 14, 2022 and set a 52-week high on November 18, 2021 at $134.5.

Boot Barn Holdings Inc operates specialty retail stores. The company sells western and work-related footwear, apparel, and accessories in the United States. It is a single operating segment, which includes net sales generated from its retail stores and e-commerce websites.