Build-A-Bear Workshop, Inc. (BBW), a retailer that offers plush animals and related merchandise, witnessed a surge in its share value by over 15% on Thursday morning. This increase was propelled by the company's fourth-quarter performances exceeding Wall Street predictions.
The company's fourth quarter saw profits soar to $22.27 million or $1.57 per share, which is an increase from last year's fourth quarter when it reached $20.51 million or $1.39 per share.
After discounting certain items, the earnings were tallied at $19.01 million or $1.34 per share, surpassing an average estimate of $1.32 per share, according to analysts surveyed by Thomson-Reuters.
The company's revenue for the quarter also showed a positive upward trend, increasing by 2.9% to $149.28 million, up from $145.11 million from last year. This fell slightly short of the consensus estimate of $150.45 million.
Looking at fiscal 2024, Build-A-Bear Workshop projects an adjusted revenue growth in the mid-single-digit percentage range. Broadly, three analysts predict that the company will report revenue growth of 3.2%, amounting to $502.97 million for the year.
On a related note, Build-A-Bear Workshop's Board announced a quarterly dividend of $0.20 per share on Wednesday. This sum will be paid to stockholders on record as of March 28 and will be disbursed on April 11.
Currently, BBW is being traded at $28.98, having fluctuated between $17.85 and $30.49 over the last year.