Ollie's Bargain Outlet (NASDAQ: OLLI) reported Q3 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $283.6 million versus the consensus estimate of $278.46 million.

• Total net sales increased 19.1% to $283.6 million.
• Comparable store sales increased 4.6% on top of a 2.1% increase in the third quarter last year.
• Store count increased 12.1% year-over-year with the opening of 17 stores, including one relocation, totaling 297 stores in 23 states at period-end.
• Operating income increased 21.0% to $29.3 million and operating margin increased 10 basis points to 10.3%.
• Net income increased 31.6% to $24.8 million and net income per diluted share increased 31.0% to $0.38.
• Adjusted net income(1) increased 47.1% to $20.9 million and adjusted net income per diluted share(1) increased 45.5% to $0.32.
• Adjusted EBITDA(1) increased 18.9% to $34.7 million.

Mark Butler, Chairman, President and Chief Executive Officer, stated, “We are very pleased with our third quarter results, as we once again exceeded both our sales and earnings expectations. Strong deal flow and new store performance drove total sales growth of 19% and tight expense control contributed to adjusted net income growth of 47%. The third quarter was our 18th consecutive quarter of positive comparable store sales with broad-based strength across our merchandise categories. We are very excited for our busiest night of the year—Ollie’s Army Night—on December 9th and we are well-positioned for the remainder of the holiday season. Based on our strong third quarter results and the continued momentum in our business, we are raising our full-year outlook for sales and earnings.”

Mr. Butler added, “We recently celebrated the opening of our 300th store. We are proud of this milestone and we’re very pleased that our founding principle of selling Good Stuff Cheap continues to resonate. We are also very excited that we’re underway with the construction of our third distribution center as this new facility is central to our growth strategy. Our business has never been stronger and we remain committed to delivering great bargains to our customers and long-term growth to our shareholders.”

GUIDANCE:

Ollie's Bargain Outlet sees FY2018 EPS of $1.74-$1.77, versus the consensus of $1.77. Ollie's Bargain Outlet sees FY2018 revenue of $1.226-1.231 billion, versus the consensus of $1.23 billion.

For earnings history and earnings-related data on Ollie's Bargain Outlet (OLLI) click here.