Ollie's Bargain Outlet Holdings (OLLI) Q4 FY2023 earnings: revenue $649 million, up 18.0% on the year

Ollie's Bargain Outlet Holdings, Inc. (OLLI) reported revenue of $649 million for Q4 FY2023, the quarter ended 3 February 2024, up 18.0% on the same quarter a year earlier. Net income was $76 million, up 44.1% on the year, and diluted earnings per share $1.23. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2024.

Revenue$649 millionup 18.0%

Net income$76 millionup 44.1%

Diluted EPS$1.23

QuarterQ4 FY2023ended 3 February 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	649	480	n/a	n/a
Cost of revenue	386	286	n/a	n/a
Gross profit	263	194	n/a	n/a
Gross margin	40.5%	40.4%	n/a
Selling, general and administrative	156	142	n/a	n/a
Operating income	97.7	39.1	n/a	n/a
Operating margin	15.0%	8.1%	n/a
Pre-tax income	102	43.0	n/a	n/a
Income tax	25.8	11.2	n/a	n/a
Effective tax rate	25.2%	26.1%	n/a
Net income	76.5	31.8	n/a	n/a
Net margin	11.8%	6.6%	n/a
Diluted EPS	$1.23	$0.51	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	144	1.1	n/a	n/a
Capital expenditure	43.0	36.1	n/a	n/a
Free cash flow	101	-35.0	n/a	n/a
Free cash flow margin	15.5%	-7.3%	n/a
Cash from investing	-24.8	-11.7	n/a	n/a
Cash from financing	-12.1	-11.2	n/a	n/a
Depreciation and amortisation	7.6	7.1	n/a	n/a
Share-based compensation	3.2	3.0	n/a	n/a
Buybacks	12.7	13.4	n/a	n/a
Diluted shares, weighted	62m	62m	n/a	n/a
Shares outstanding at period end	61m	62m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,508	1,440	n/a	n/a
Debt	1.0	1.0	n/a	n/a
Operating lease liabilities	398	393	n/a	n/a
Other liabilities	387	360	n/a	n/a
Total liabilities and equity	2,295	2,194	n/a	n/a
Fixed assets	270	230	n/a	n/a
Goodwill	445	445	n/a	n/a
Intangible assets	231	231	n/a	n/a
Securities held for sale or to maturity	87.0	104	n/a	n/a
Cash and equivalents	266	160	n/a	n/a
Receivables	2.2	2.0	n/a	n/a
Inventory	506	532	n/a	n/a
Other assets	488	490	n/a	n/a
Total assets	2,295	2,194	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	480	649	509	578	517	667	577	680	614	779	659	741
Cost of revenue	286	386	299	359	303	395	340	408	360	468	383	419
Gross profit	194	263	209	219	214	272	237	271	254	311	276	322
Gross margin	40%	41%	41%	38%	41%	41%	41%	40%	41%	40%	42%	43%
SG&A	142	156	142	146	154	170	165	175	180	188	189	197
Operating income	39.1	97.7	56.5	60.8	44.5	87.7	56.2	77.0	55.4	109	69.6	108
Operating margin	8%	15%	11%	11%	9%	13%	10%	11%	9%	14%	11%	15%
Pre-tax income	43.0	102	60.8	64.7	48.5	91.8	61.0	81.5	59.9	114	74.5	115
Tax rate	26%	25%	24%	24%	26%	25%	22%	25%	23%	25%	24%	25%
Net income	31.8	76.5	46.3	49.0	35.9	68.6	47.6	61.3	46.2	85.6	56.4	85.5
Net margin	7%	12%	9%	8%	7%	10%	8%	9%	8%	11%	9%	12%
Diluted EPS	$0.51	$1.23	$0.75	$0.79	$0.58	$1.11	$0.77	$0.99	$0.75	$1.39	$0.92	$1.42
Operating cash flow	1.1	144	40.2	43.9	-4.4	148	28.7	80.7	4.8	182	45.5	108
Capital expenditure	36.1	43.0	26.9	38.3	31.0	24.4	26.7	26.4	30.7	18.0	25.5	43.3
Free cash flow	-35.0	101	13.3	5.6	-35.4	123	2.0	54.3	-26.0	164	20.0	64.8
Buybacks	13.4	12.7	25.0	6.4	15.8	5.7	17.1	11.5	11.6	33.6	53.4	84.0
Shares outstanding	62m	61m	61m	61m	61m	61m	61m	61m	61m	61m	60m	59m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 3 February 2024, filed 27 March 2024, accession 0001140361-24-015681: the filing on EDGAR. All of Ollie's Bargain Outlet Holdings, Inc.'s filings: EDGAR company page.

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