Lululemon Q3 Earnings Rundown: EPS Beat, Comparable Sales Up 11%, Strong Guidance

Lululemon Athletica Inc LULU reported second-quarter financial results Thursday after the close. Here's a look at the key metrics from the report.

What Happened: Lululemon said second-quarter revenue increased 18% year-over-year to $2.21 billion, which beat the consensus estimate of $2.17 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.68 per share, which beat analyst estimates of $2.54 per share.

North American revenues were up 11% year-over-year, while international revenues climbed 52%. Comparable sales were up 11%. Income from operations came in at $479.3 million on operating margin of 21.7%.

Lululemon opened 10 new stores during the quarter, bringing total stores up to 672. The company ended the quarter with $1.1 billion in cash and equivalents. 

"Our Q2 results highlight the ongoing strength of the business amid a dynamic operating environment," said Calvin McDonald, CEO of Lululemon.

"Our continued ability to gain market share and bring new customers into the brand illustrates the significant runway ahead for lululemon."

Lululemon expects third-quarter revenue to be between $2.165 billion and $2.19 billion. Earnings are expected to be in the range of $2.23 to $2.28 per share.

Full-year revenue is expected to be between $9.51 billion and $9.57 billion versus estimates of $9.51 billion. Full-year earnings are expected to be between $12.02 and $12.17 per share versus estimates of $11.93 per share. 

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

See Also: LULU Defies Challenging Macro Environment: Analyst Sees Continued 'Beat-and-Raise' Potential

LULU Price Action: Lululemon shares were down 0.07% after hours at $380.41 at the time of publication, according to Benzinga Pro.

Photo: m01229 from Flickr.