Buckle Q2 Earnings Top Estimates

by Shivani Kumaresan, Benzinga Staff Writer

August 20, 2021 11:49 AM | 1 min read | Make a Comment

Buckle Inc BKE reported second-quarter FY21 sales growth of 36.6% year-on-year, to $295.12 million, beating the analyst consensus of $226 million. Net sales increased 44.8% from Q2 FY19 while falling 1.3% sequentially from Q1 FY21.
Online sales decreased 5.5% Y/Y and increased 88.1% compared to Q2 FY19.
EPS of $1.04 beat the analyst consensus of $0.56.
Gross profit rose 52.1% Y/Y to $142.02 million, with the margin of expanding 490 basis points to 48.1%.
Operating expenses increased 54.9% Y/Y to $74.1 million.
The operating margin was 23%, and operating income for the quarter rose 49% to $67.9 million.
The company held $406.7 million in cash and equivalents as of July 31, 2021.
Price Action: BKE shares traded lower by 5.59% at $40.635 on the last check Friday.