10:19 AM EST, 11/25/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Bath & Body Works ( BBWI ) shares surged about 18% in recent trading on Monday after it posted adjusted earnings and net sales ahead of consensus estimates and raised its guidance for the fiscal year.

The company reported fiscal Q3 adjusted earnings of $0.49 per diluted share, up from $0.48 a year earlier.

Analysts surveyed by FactSet expected $0.47.

Net sales for the quarter ended Nov. 2 were $1.61 billion, up from $1.56 billion a year earlier.

Analysts surveyed by FactSet expected $1.58 billion.

For fiscal Q4, the company expects adjusted EPS of $2.06. Analysts polled by FactSet expect $1.97.

Net sales for the fiscal quarter are projected to decline by 4.5% to 6.5% compared with a year earlier. Analysts polled by FactSet expect $2.74 billion.

The company raised its fiscal 2024 adjusted EPS guidance to now be between $3.15 and $3.28 from the prior guidance of between $3.06 and $3.26. Analysts surveyed by FactSet expect $3.31.

Net sales for the fiscal year are now projected to decline by 1.7% to 2.5%, compared with the prior guidance of a 2% to 4% decline. Analysts surveyed by FactSet expect $7.24 billion.

Price: 36.13, Change: +5.42, Percent Change: +17.65