Build-A-Bear Workshop, Inc. (NYSE:BBW) Q2 2023 Results Conference Call August 24, 2023 9:00 AM ET

Company Participants

Gary Schnierow - VP, IR & Corporate Finance

Sharon Price John - CEO

Voin Todorovic - CFO

Conference Call Participants

Eric Beder - SCC Research

Steve Silver - Argus Research

Operator

Greetings, and welcome to the Build-A-Bear Workshop Second Quarter 2023 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Gary Schnierow, Vice President, Investor Relations and Corporate Finance. Thank you, sir. You may begin.

Gary Schnierow

Good morning. Thank you for joining us. With me today are Sharon Price John, CEO; and Voin Todorovic, CFO. For today's call, Sharon will begin with a discussion of our second quarter performance and update the progress we have made on our key priorities. After, Voin will review the financials in more detail and provide our guidance. We will then open the call to take your questions. [Operator Instructions].

Please note the call is being recorded and broadcast live via the Internet. The earnings release is available on the Investor Relations portion of our corporate website. A replay of both our call and webcast will be available later today on the IR site. I will remind everyone that forward-looking statements are inherently subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Risk Factors section in the company's annual report on Form 10-K. We undertake no obligation to revise any forward-looking statements unless required by law.

Also, during this call, we may discuss non-GAAP financial measures, which adjust our GAAP results to eliminate the impact of certain items, which management believes can be useful in evaluating the company's performance. The presentation of non-GAAP financial measures should not be considered in isolation or a substitute for results prepared in accordance with GAAP. If non-GAAP measures are presented, you will find information regarding these non-GAAP financial measures and a reconciliation of these non-GAAP to GAAP measures in the company's earnings release.

And now, I would like to turn the call over to Sharon.

Sharon Price John

Thank you, Gary. Good morning, and thank you for joining us for Build-A-Bear's Second Quarter 2023 Earnings Call. We are pleased to report record second quarter and first half 2023 results, and we remain confident in our annual guidance for the year. At a headline level, for the second quarter, revenues increased 8.5% to over $109 million. Pretax income increased 37% to $10 million, and diluted EPS grew 50% to $0.57.