Williams-Sonoma (WSM) Shares Up 6% on Q4 Beat, Increases Dividend 10%, Authorizes $1.5B Buyback
Williams-Sonoma (NYSE: WSM) shares were trading more than 6% higher after-hours following the company’s reported Q4 results, with EPS coming in at $5.42, beating the consensus estimate of $4.82. Revenue was $2.5 billion, compared to the consensus estimate of $2.58 billion, with comparable brand revenue growth of 10.8%.
The company expects full 2022-year financial performance to be in line with its long-term outlook of mid-to-high single-digit annual net revenue growth, growing revenues to $10 billion by 2024.
Furthermore, the company made an announcement today, according to which its board of directors approved a 10% increase in the company’s quarterly cash dividend to $0.78 per share, and authorized a new $1.5 billion stock repurchase program, which replaces the current program with $750 million remaining repurchase authorization.