Several companies made headlines after the bell, with Lululemon Athletica standing out as it saw a 12% increase in its stock price due to strong first-quarter results. The athleisure maker reported earnings of $2.54 per share on $2.21 billion in revenue, surpassing Wall Street’s estimates on both the top and bottom lines. Lululemon also raised its outlook for full-year earnings per share, indicating continued growth for the company.
In contrast, discount retailer Five Below saw its shares sink more than 13% after providing disappointing guidance. The company expects second-quarter revenue to range between $830 million and $850 million, falling short of an LSEG consensus estimate of $883 million. Revenue for the period also came in below expectations, leading to a negative reaction from investors.
Victoria’s Secret, the intimate apparel maker, added less than 1% after reporting earnings that topped expectations in the first quarter. The company’s revenues were in line with Wall Street’s estimates, and it anticipates a low single-digit decline in revenues for the current period. Victoria’s Secret reaffirmed its full-year outlook, suggesting stability in its future performance.
Smartsheet, an enterprise platform stock, experienced a 12% leap in its stock price following its first-quarter results. The company posted adjusted earnings of 32 cents per share and $263 million in revenue, exceeding an LSEG consensus estimate for earnings of 27 cents per share and $258 million in revenue. The strong performance indicates growth potential for Smartsheet in the coming quarters.
On the other hand, enterprise software stock Sprinklr saw a nearly 18% decline in its stock price due to a weak outlook. The company expects revenues to range between $779 million and $781 million for the full year, lower than its previous outlook of $804.5 million to $805.5 million and a FactSet consensus estimate of $805.4 million. Second-quarter guidance also fell short of expectations, leading to a negative response from investors.
Overall, the after-hours trading activity highlights the mixed performance of different companies in response to their quarterly results and guidance. While some companies like Lululemon and Smartsheet saw significant increases in their stock prices due to strong results, others such as Five Below and Sprinklr faced declines following disappointing guidance. Investors will continue to monitor these companies as they navigate the challenges and opportunities in their respective industries.
