Bed Bath & Beyond shares soared more than 20 percent during after hours trading as the home-goods company reported it is ahead of its long-term financial goals and beat earnings estimates.
The company said it is ahead of schedule in terms of slowing down the declines in operating profit and net earnings per share, plus increasing net earnings per share by 2020. It also said that its fiscal 2019 earnings per share will be about the same as 2018′s, a big beat over Wall Street’s consensus, which projected a 21 percent decline.
Bed Bath & Beyond also earned 18 cents per share, while analysts expected 17 cents per share, according to Refinitiv. However, it missed on revenue, reporting $3.03 billion. Analysts expected $3.04 billion.
KB Home shares rose more than 3 percent as the company exceeded expectations in its quarterly earnings. The company earned 96 cents per share, while analysts expected 93 cents per share. Its revenue was in line with expectations, coming in at $1.35 billion.