Macy's: new share buybacks and dividend increase

(CercleFinance.com) - On reporting its quarterly results, Macy's announced a new 2 billion dollar share buyback program, having completed its current 500 million dollar program, increasing its quarterly dividend 5% to 15.
75 cents per share.

In Q4, department stores posted adjusted EPS that more than tripled to 2.45 dollars, with adjusted EBITDA that was up 58% to 1.25 billion dollars, i.e. a 14.4% margin on revenues of 8.66 billion dollars, up 28.3% on a comparable basis.

For the year ahead, Macy's expects adjusted EPS of 4.13 to 4.52 dollars (vs. 5.31 dollars in 2021), with an adjusted EBITDA margin of 11% to 11.5%, and revenue of between 24.46 and 24.7 billion dollars (flat to +1% vs. 2021).



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