When At Home Group Inc. (NYSE: HOME) reported its fiscal second-quarter financial results after the markets closed on Tuesday, it posted $0.13 in earnings per share (EPS) on $188.4 million in revenue. The same period from the previous year reportedly had $0.16 in EPS on $156.0 million in revenue.
Only recently did this company enter the market, on August 3. It priced its initial public offering (IPO) at $15 per share, moving over 10 million shares (including the overallotment option).
The net proceeds from the offering totaled $132.9 million, which the company used to repay $130.0 million in principal amount of indebtedness outstanding.
In terms of the outlook for the rest of the fiscal year, management believes that the company is on track to deliver strong top and bottom line results. Its fiscal 2017 outlook assumes that it will deliver 19% to 21% net sales growth, an almost six-fold increase in net income, and a 32% to 40% increase in pro forma adjusted net income.
As for the actual numbers, net sales are expected to be between $738 million and $750 million, and EPS are expected to be in the range of $0.53 to $0.56.
Lee Bird, president and CEO, commented:
The second fiscal quarter marked our ninth consecutive quarter of over 20% net sales growth and our tenth consecutive quarter of positive comparable store sales growth, reflecting the broad consumer appeal of our differentiated, value-oriented brand. This top line performance, coupled with our efficient operating structure and strong execution by our teams, enabled us to deliver EPS of $0.12 and pro forma adjusted EPS of $0.13 while continuing to make planned investments to drive profitable growth.
On the books, At Home’s cash and cash equivalents totaled $8.15 million, up from $6.15 million at the end of the same period of last year.
Shares of At Home were trading up about 6.4% at $13.25. The stock has a consensus analyst price target of $16.76 and a 52-week trading range of $11.58 to $46.48.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
