Boot Barn (NYSE:BOOT) Posts Earnings Results, Beats Estimates By $0.60 EPS

Boot Barn (NYSE:BOOT) issued its earnings results on Wednesday. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.60, FiscalAI reports. The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 EPS. Boot Barn updated its FY 2027 guidance to 8.800-9.230 EPS and its Q2 2027 guidance to 1.550-1.650 EPS.

Here are the key takeaways from Boot Barn’s conference call:

• First-quarter results exceeded expectations, with sales up 18% to $594 million, same-store sales up 4.7%, and diluted EPS up 32% to $2.29. Results included a $0.38-per-share benefit from tariff refunds and better-than-expected product margins and expense control.
• Boot Barn raised its fiscal 2027 outlook, targeting up to $2.6 billion in sales, 4% same-store sales growth, and diluted EPS of $9.23, up 26%. The company now expects approximately 60 basis points of full-year merchandise-margin expansion excluding tariff refunds.
• Current-quarter momentum moderated, with consolidated same-store sales approximately flat through the first four weeks of the second quarter and July below expectations. Management attributed the weakness primarily to fewer Western music and stadium events, World Cup-related viewing distractions, and difficult comparisons.
• New-store performance remains strong, with 27 locations opened in the quarter and 70 planned for the fiscal year. New stores are projected to generate approximately $3.2 million in average annual revenue with payback in less than two years, supporting the long-term goal of 1,200 U.S. stores.
• The work business continued to accelerate, delivering high-single-digit comparable growth in both work boots and work apparel. Strong third-party work-boot sales may reduce exclusive-brand penetration to flat or slightly down year over year, but management views the mix shift as beneficial for sales and customer acquisition.

Boot Barn Trading Down 4.8%

BOOT stock traded down $7.59 during trading on Wednesday, hitting $151.03. 1,180,686 shares of the stock traded hands, compared to its average volume of 566,141. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.11 and a beta of 1.69. Boot Barn has a one year low of $133.18 and a one year high of $210.25. The company has a 50 day simple moving average of $162.68 and a 200 day simple moving average of $168.76.

More Boot Barn News

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q1 2027 adjusted earnings of $2.29 per share, well above the $1.69 analyst consensus and up from $1.74 a year earlier. Revenue increased 17.7% year over year to $593.5 million, topping the $583.15 million estimate. Boot Barn fiscal first-quarter results
• Positive Sentiment: Comparable-store sales rose 4.7%, including a 3.8% increase in retail-store same-store sales, indicating continued demand for Boot Barn’s Western and workwear products. The quarter also produced a 10.02% net margin and 18.15% return on equity. Boot Barn key first-quarter metrics
• Positive Sentiment: Full-year fiscal 2027 EPS guidance of $8.80 to $9.23 is above the $8.54 consensus estimate, supporting the longer-term earnings outlook. Full-year revenue guidance was broadly in line with expectations. Boot Barn earnings report
• Neutral Sentiment: The strong quarterly beat confirms positive operating momentum, but investors are focusing more heavily on forward guidance than on the recently completed quarter.
• Negative Sentiment: Second-quarter fiscal 2027 guidance is below consensus: EPS of $1.55 to $1.65 versus $1.69 expected, and revenue of $572 million to $582 million versus $593.9 million expected. This cautious near-term outlook is the primary reason the stock has moved lower despite the earnings beat. Boot Barn guidance announcement

Institutional Trading of Boot Barn

Several hedge funds have recently modified their holdings of BOOT. Los Angeles Capital Management LLC acquired a new position in shares of Boot Barn in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Boot Barn during the 3rd quarter valued at $49,000. Johnson Financial Group Inc. acquired a new stake in Boot Barn during the 3rd quarter valued at $60,000. Kemnay Advisory Services Inc. bought a new position in Boot Barn in the 4th quarter valued at $91,000. Finally, Kestra Advisory Services LLC acquired a new position in Boot Barn in the fourth quarter worth $99,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America cut their price target on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Robert W. Baird lowered their price objective on Boot Barn from $244.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. UBS Group set a $225.00 target price on Boot Barn in a report on Wednesday, June 17th. TD Cowen restated a “buy” rating on shares of Boot Barn in a research report on Wednesday, June 17th. Finally, Piper Sandler decreased their price target on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Boot Barn presently has an average rating of “Moderate Buy” and a consensus price target of $226.92.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.