Cimpress Plc CMPR shares are trading higher Thursday after the company reported better-than-expected second-quarter financial results and announced the repurchase of up to $150 million of company shares.
The Details:
Cimpress beat estimated earnings by 72.58%, reporting quarterly earnings of $2.14 per share versus the analyst consensus estimate of $1.24 per share.
The company reported quarterly sales of $921.36 million which beat the analyst consensus estimate of $892.1 million by 3.28% and represents a 9% increase over sales of $845.20 million the same period last year.
Cimpress also announced a share repurchase program of up to $150 million.
“We remain focused on execution and our team is incentivized to deliver against the guidance we have provided for the remainder of FY2024. We have significantly expanded profitability and free cash flow over the last year while still investing for growth to enhance our long-term prospects, underlying cash flow generation ability and intrinsic value per share. I remain grateful for your support as we strive to enhance the value we deliver to our customers and long-term investors,” commented Robert Keane, Cimpress CEO.
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CMPR Price Action: According to Benzinga Pro, Cimpress shares are up 25% at $94.15 at the time of publication.
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