Williams-Sonoma, Inc. Q3 FY2024 #EarningsReport Summary | $WSM (+3,83%)

In Q3 FY2024, Williams-Sonoma showcased resilience despite revenue declines, driven by operational efficiencies and margin improvements. The quarter highlighted sustained profitability and raised optimism for the full-year outlook.

📊 Income Statement Highlights (vs. Q3 FY2023):

▫️ Net Income: $248.95M vs. $237.29M (+4.91%)

▫️ Total Revenue: $1.80B vs. $1.85B (-2.90%)

▫️ Adjusted EPS: $1.96 vs. $1.83 (+7.10%)

▫️ Gross Margin: 46.70% vs. 44.40% (+230bps)

▫️ Operating Income: $320.64M vs. $315.08M (+1.77%)

▫️ Operating Margin: 17.80% vs. 17.00% (+80bps)

▫️ SG&A Expenses: $521.07M vs. $507.28M (+2.72%)

💼 Balance Sheet Highlights (vs. October 29, 2023):

▫️ Total Assets: $4.97B vs. $4.88B (+1.73%)

▫️ Cash & Cash Equivalents: $826.78M vs. $698.81M (+18.34%)

▫️ Merchandise Inventories: $1.45B vs. $1.40B (+3.82%)

▫️ Total Liabilities: $3.06B vs. $3.07B (-0.33%)

▫️ Equity: $1.91B vs. $1.81B (+5.14%)

🔮 Future Outlook:

Williams-Sonoma raised its fiscal 2024 guidance. Key updates include:

▫️ Revenue: Expected decline narrowed to -3.0% to -1.5%.

▫️ Operating Margin: Increased forecast to 18.4%-18.8% (inclusive of adjustments).

▫️ Long-term Outlook: Targeting mid-to-high single-digit revenue growth and operating margins in the mid-to-high teens.

The company remains optimistic heading into Q4, traditionally its strongest quarter, with continued focus on operational efficiencies and customer engagement.