Dividend Stocks

Why Is Five Below (FIVE) Stock Up Today?

storefront of a five below representing five stock.

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Five Below (NASDAQ:FIVE) stock is climbing higher on Thursday following the release of its earnings report for the third quarter of 2022.

That earnings report starts with the company’s diluted earnings per share of 29 cents. That’s better than the 15 cents per share Wall Street was expecting during the quarter. Even if it’s a drop from the 43 cents per share reported in the third quarter of 2021.

Adding to that is the discount retailer’s revenue of $645.03 million. That’s more good news for FIVE stock compared to analysts’ revenue estimate of $614.32 million. It’s also a 6.2% increase year-over-year from $607.6 million.

Joel Anderson, president and CEO of Five Below, said the following in the earnings report.

“We delivered third quarter results that were better than our guidance in spite of the dicult macro environment and challenging year-over-year comparison. Our performance was driven by ticket and transaction metrics that improved throughout the quarter, disciplined expense management and continued focus on our long-term Triple Double vision.”

Q4 Guidance Is Also Boosting FIVE Stock

That’s thanks to a strong outlook for the quarter. The company is expecting diluted EPS to range from $2.93 to $3.09 on revenue of f $1.085 billion to $1.11 billion. To put that in perspective, Wall Street’s guidance has diluted EPS and revenue coming in at $2.93 and $1.07 billion.

FIVE stock is up 10.7% as of Thursday morning.

Investors seeking more stock market news today are in the right place!

InvestorPlace is home to all of the latest stock market news for Thursday! Among that is what has shares of Splunk (NASDAQ:SPLK) stock climbing, this morning’s biggest pre-market stock movers, and more. You can find all of this news at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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