OneSpaWorld stock jumps on record quarterly results

OneSpaWorld stock rose more than 11.3% in morning trading today after the cruise-ship wellness operator reported record third-quarter results that exceeded Wall Street expectations.

The company posted adjusted earnings per share of $0.34, beating the analyst estimate of $0.31. Revenue reached $276.5 million, surpassing the consensus of $272.1 million and increasing 7% from the same period last year. Management said this marked the 22nd consecutive quarter of year-over-year growth.

The board approved a new $100 million share repurchase program and increased the quarterly dividend by 25% to $0.0625 per share. During the third quarter, the company repurchased approximately 1.4 million shares for $37.2 million, completing its prior $75 million authorization.

Net income climbed 16% to a record $28.2 million. Adjusted EBITDA rose 12% to a record $39.2 million compared to the year-ago quarter.

CEO Leonard Fluxman stated, "We delivered excellent third quarter performance, reporting results that surpassed our guidance."

The company issued fourth-quarter revenue guidance of $248 million to $253 million, with a midpoint slightly below the consensus estimate of $252.8 million.

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