Sezzle (NASDAQ:SEZL) stock is taking off on Thursday alongside the release of its earnings report for the first quarter of 2024.
This earnings report starts off strong with Underlying Merchant Sales (UMS) of $492.7 million. That represents a 33.2% increase from the first quarter of 2023. It’s also a new record for the payments company in a non-holiday quarter.
Sezzle also reported diluted earnings per share of $1.34 during the quarter. That’s another increase compared to the 31 cents in the same period of the year prior. Traders will also note that its Q1 2024 EPS is above its full-year 2023 EPS of $1.25.
What’s Next for SEZL Stock?
Here’s what Sezzle chairman and CEO Charlie Youakim said about the company’s future.
“The successful refinancing of our credit facility, putting us on a solid foundation, coupled with our strategic initiatives gives us the confidence to increase our FY2024 GAAP Net Income guidance from $20.0 million to $30.0 million.”
To go along with that, Sezzle is expecting 2024 revenue to increase 25%, as compared to its prior outlook of a 20% increase. It’s also introducing a new diluted EPS guidance of $5 per share for the year.
SEZL stock is up 43.3% as of Thursday morning and was up 107.7% year-to-date when markets closed yesterday.
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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.
