Build-A-Bear Workshop, Inc. (NYSE:BBW) Q3 2024 Earnings Conference Call December 5, 2024 9:00 AM ET
Company Participants
Gary Schnierow - Investor Relations
Sharon Price John - Chief Executive Officer
Voin Todorovic - Chief Financial Officer
Conference Call Participants
Eric Beder - Small Cap Consumer Research
Greg Gibas - Northland Securities
Keegan Cox - D.A. Davidson
Steve Silver - Argus Research
Operator
Greetings, and welcome to Build-A-Bear Workshop Third Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Gary Schnierow, Build-A-Bear Investor Relations. Thank you. You may begin.
Gary Schnierow
Thank you. Good morning, everyone, and welcome to Build-A-Bear's third quarter 2024 earnings conference call.
With us today are Build-A-Bear's CEO, Sharon Price John; and CFO, Voin Todorovic.
During this call, we'll refer to forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially. Please refer to our Forms 10-K and 10-Q, including the Risk Factors section. We undertake no obligation to update any forward-looking statement.
During this call, we will present both GAAP and non-GAAP financial measures. A reconciliation of non-GAAP to GAAP measures is included in today's earnings press release, which is distributed and available to the public through our Investor Relations website.
Now, I'll turn the call over to Sharon.
Sharon Price John
Thank you, Gary. Good morning, and thanks for joining us for Build-A-Bear's third quarter fiscal 2024 earnings call.
We are pleased to report strong results this quarter as we continue to execute on our strategic initiatives to evolve and diversify the company's business model, to drive profitable growth and to leverage the power and affinity of the Build-A-Bear brand. These results represent the best-ever third quarter in Build-A-Bear's history, although the web continued to perform below expectations.
Some highlights for the period include revenue growth of 11% to over $119 million, pre-tax income growth of 26% to $13 million, and as we continue repurchasing shares, an EPS increase of almost 38%. Adding the quarterly dividend to the stock buyback, we returned $7.5 million of capital to shareholders in the quarter.
Even with our strong third quarter total results, given that the web has continued to perform below our expectations, we are narrowing our revenue guidance and updating our pre-tax income outlook for the year. Of note, we remain positioned for fiscal 2024 to deliver our fourth consecutive year of record revenue, and Voin will provide additional details in his comments.