Investing.com– Fairy Charm Inc (NYSE:-RRB- shares leapt after the cosmetics maker beat expectations and raised its outlook for the year.
Shares were up almost 10% in after-hours trading and are up more than 56% up until now this year.
The adjusted revenues per share of 42 cents in the 4th quarter, compared to the quote of adjusted revenues of 20 cents a share. Earnings increased 78%, to $187.4 million, versus expectations for $156M.
The business stated it had strength in both retail and e-commerce channels, and gross margins increased due to the fact that of rates, lower transport costs and expense savings.
For the complete 2023 the business stated net sales increased 48% to $578.8 M, likewise driven by strength in retail and e-commerce channels.
CEO Tarang Amin stated, “Our company believe we are still in the early innings of opening the complete capacity we see” for the business.
For assistance, Fairy stated it sees 2024 sales of $705M to $720M, a 22% to 24% gain. It anticipates adjusted revenues per share of $1.73 to $1.76. Both outlooks beat the present agreement quote.