Matthew Hatcher for the Washington Post via Getty Images
- Lululemon shares jumped in on Wednesday after the fourth quarter results peaked analysts' estimates.
- Back in January, Lululemon predicted his 4th quarter earnings. Wednesday's report topped the company's expectations.
- Shares of the athletic clothing dealer were up over 1
- See Lululemon trade live.
Shares in Lululemon jumped over 10% after-trade Wednesday after the company reported fourth-quarter results that peaked Wall Street estimates. The company's full-year result guidance also peaked expectations.
This is what Lululemon reported, compared to which analysts were investigated by Bloomberg, expected:
- Adjusted Earnings Per Share: $ 1.85 vs. $ 1.74.
- Revenue: $ 1.2 billion against $ 1.15 billion.
- All year round EPS: $ 4.48 to $ 4.55, against $ 4.41.
Athletic-apparel company said in a January release that it expected net revenue of between $ 1.14 billion and $ 1.15 billion, up from its previous forecast of $ 1.115 billion and $ 1.125 billion.
The Canadian dealer also approved a $ 500 million buyback program, adding what appears to be another record year for buybacks in 2019. In the fourth quarter, the company repurchased 1.5 million shares in its stock at an average cost of $ 120.99 per share.
Last quarter turned out to be a mixed bag for the company. While Lululemon delivered results that beat Wall Street estimates on both the top and bottom lines, stocks fell due to weaker than expected views.
These results, along with the updated guidance back in January, are why investors were focused on the company's future prospects in Wednesday's report, said Deutsche Bank analysts led by Paul Trussell.
"We are still confident of the company's superior growth ahead with product innovation and expansion and a long international path," they wrote in a note to customers
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