Five Below shares rise after earnings beat, strong guidance
Five Below Inc. shares rose 8.4% in the extended session Wednesday after the company beat its first-quarter earnings expectations and issued better-than-expected second-quarter guidance. Five Below stock closed up 3% to $81.28 during regular trading. The company reported first-quarter net income of $21.8 million, or 39 cents a share, compared with $8.4 million, or 15 cents a share, in the year-earlier period. Revenue rose to $296.3 million, up from $232.9 million in the year-ago period. Analysts surveyed by FactSet had estimated 32 cents a share on revenue of $290.9 million. For the second quarter, analysts model earnings of 34 cents a share on sales of $327 million. The company said it expects second-quarter net income of 36 cents to 38 cents a share and sales of $332 million to $335 million. Five Below stock has gained 23% this year, with the S&P 500 index rising 2.8%.