© Financial Eye. Williams-Sonoma Shares Up 6% on Q1 Beat, 2022 Outlook In Line With Long-Term Estimates
Williams-Sonoma (NYSE:) shares were trading around 6% higher after-hours following the company’s reported Q1 results, with EPS of $3.50 coming in better than the consensus estimate of $2.88.
Revenue was $1.89 billion, compared to the consensus estimate of $1.8 billion. Comparable brand revenue growth was 9.5% year-over-year, including Pottery Barn growth of 14.6% and West Elm growth of 12.8%.
The company provided its 2022 outlook, expecting the performance to be in line with its long-term mid-to-high single digit annual net revenue growth estimate, increasing revenues to $10 billion by 2024, and operating margins relatively in line with its 2021 operating margin.
Shares of Williams-Sonoma are down 32% year-to-date.
By Davit Kirakosyan