Categories Consumer, Earnings

Earnings Summary: A snapshot of Bath & Body Works’ Q3 2023 results

Bath & Body Works Inc. (NYSE: BBWI), a provider of personal care and home fragrance products, announced financial results for the third quarter of 2023.

  • Q3 net sales decreased 2.6% annually to $1.56 billion from $1.60 billion for the third quarter of 2022
  • The company reported earnings of $0.52 per share for the October quarter, compared to $0.40 per share in the year-ago quarter
  • Excluding special items, third-quarter earnings rose to $0.48 per share from $0.40 per share in the year-ago quarter
  • Net income rose 31% year-over-year to $119 million; operating income was $221 million vs. $202 million last year
  • For fiscal 2023, the company expects net sales to decline 2.5-4% from last year; full-year EPS is expected to be between $2.99 and $3.19
  • The management is looking for 2023 adjusted earnings per share in the range of $2.90 to $3.10

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