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Why Is Five Below (FIVE) Stock Down Today?

Investor Place · 06/09/2022 11:22

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

  • Five Below (FIVE) stock is slipping on an earnings report.
  • The company missed revenue estimates for the quarter.
  • It also put out weak guidance for 2022.
storefront of a five below (FIVE Stock)
Source: Jonathan Weiss / Shutterstock.com

Five Below (NASDAQ:FIVE) stock is heading lower on Thursday following the release of the discount chain’s earnings report for the first quarter of 2022.

The first thing holding down FIVE stock today is the company’s revenue of $639.6 million. That’s worse than the $652.73 million that Wall Street was expecting it to report. However, it does represent a 7% increase from the $597.8 million reported during the same period of the year prior.

One highlight worth noting is the company’s diluted earnings per share of 59 cents. This just barely comes in above analysts’ estimate of 58 cents per share for the quarter. Even so, it’s still down from the 88 cents per share reported in the first quarter of 2021.

The biggest damage to FIVE stock comes from the retailer’s outlook for the full year of 2022. It expects diluted EPS ranging from $4.85 to $5.24 on revenue of $3.04 billion to $3.12 billion. Neither of those looks good next to Wall Street’s estimates of $5.47  per share and revenue of $3.21 billion.

Today’s earnings news has FIVE stock experiencing heavy trading on Thursday. This has over 1.6 million shares on the move as of this writing. That’s already above the company’s daily average trading volume of about 1 million shares.

FIVE stock is down 4.4% as of Thursday morning.

There’s more recent stock market news worth looking into below!

InvestorPlace is home to all of the latest stock market news traders need to know about! That includes what’s happening with shares of SoFi (NASDAQ:SOFI), Bilibili (NASDAQ:BILI), and Alibaba (NYSE:BABA) stock today. You can read that news at the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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