Bon-Ton Stores (BONT) Misses Q4 EPS by 37c; Guides FY17 In-Line

Bon-Ton Stores (NASDAQ: BONT) reported Q4 EPS of $2.87, $0.37 worse than the analyst estimate of $3.24. Revenue for the quarter came in at $877.3 million versus the consensus estimate of $915.4 million.

• Net income was $44.7 million, or $2.09 per diluted share. Fourth quarter of fiscal 2016 net income includes non-cash asset impairment charges of $16.7 million, or $0.78 per diluted share.Net income in the fourth quarter of fiscal 2015 was $50.6 million, or $2.42 per diluted share. Fourth quarter of fiscal 2015 diluted earnings per share results include severance costs of $0.19 per diluted share, costs associated with debt extinguishment of $0.06 per diluted share, non-cash asset impairment charges of $0.15 per diluted share and a benefit related to an insurance settlement of $0.03 per diluted share.
• Adjusted EBITDA totaled $101.6 million compared to Adjusted EBITDA of $94.0 million in the fourth quarter of fiscal 2015. (As used in this release, Adjusted EBITDA is not a measure recognized under GAAP – see the accompanying financial table which reconciles this non-GAAP measure to net loss.) Adjusted EBITDA for the fourth quarter of fiscal 2015 included $3.9 million of severance costs associated with the Company’s cost savings initiatives and a $0.6 million gain associated with an insurance settlement. Excluding the financial impact of the severance costs and insurance settlement, Adjusted EBITDA was $97.3 million in the fourth quarter of fiscal 2015.

GUIDANCE:

Bon-Ton Stores sees FY2017 EPS of ($2.08)-($2.59), versus the consensus of ($2.34).

For earnings history and earnings-related data on Bon-Ton Stores (BONT) click here.

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