Torrid Q3 net sales up 13% to $306.2M; adj. net income $27.8M; $100M buyback

Torrid Holdings Inc.

2021-Q3 EPS reported -$0.07 revenue$964,858,000

Net sales $306.2M (+13% YoY); comparable sales +14%; gross margin 40.9% vs 35.4% last year.
GAAP net loss $58.9M due to $111.4M non-cash IPO charge; adjusted net income $27.8M ($0.25/sh), up 53%.
Adjusted EBITDA $55.2M (18.0% margin) vs $30.8M (11.4%) last year; operating cash flow $125.3M YTD.
Board authorized $100M share repurchase program; Q4 outlook: net sales $325M-$335M, adj. EBITDA $35M-$40M.
Full-year FY2021 net sales guidance $1.29B-$1.30B; capex ~$23M for ~23 new stores.

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