Q: Thoughts on the quarter?
Thanks...Steve
Thanks...Steve
5i Research Answer:
The quarter is a big relief for worried investors. EPS of 83c beat estimates of 68c. Sales of $618M beat estimates by 2%. EBITDA of $83.3M beat estimates of $73.1M. Sales rose 6.8% with comp. sales up 4.7%. Profit rose 17%. EBITDA rose 15% year over year. TD has already raised its target on the news. The dividend was increased 2.6%. Expenses were kept in line and it was a solid quarter. The outlook sounded relatively positive as well. The write off of the Fox Lake store due to fire was embedded in these results and this should not have a material impact going forward.