(Amended the article following company's correction statement: "Updated to correct clerical error in Q2 2024 Prior Adjusted Diluted EPS Outlook")
ODDITY Tech (ODD) said its Board has approved a share buyback program authorizing the repurchasing on the open market of a maximum of $150 million of the company's Class A Ordinary Shares. The Buyback Plan will expire on June 30, 2027.
Due to the approval of the Buyback Plan, ODDITY issued a refined outlook for second quarter, 2024. ODDITY expects to deliver revenue at the top end of the range, and EBITDA and EPS exceeding the range included in its latest guidance of May 7, 2024.
For the second quarter, the company now expects: adjusted EPS of approximately $0.69, revised up from prior guidance of $0.61-0.64 (not $0.56 as incorrectly stated earlier); and net revenue of approximately $189 million, revised from previous guidance of $185-189 million.
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