Discount retailer Five Below Inc (NASDAQ:FIVE) will show what holiday shopping strength the company had when it reports fourth-quarter (Q4) financial results on Wednesday after market close.

Here are the earnings estimates, analyst ratings, and key items to watch.

Five Below Q4 Earnings Estimates

Analysts expect Five Below to report Q4 revenue of $1.71 billion, up from $1.39 billion in last year's fourth quarter, according to data from Benzinga Pro.

The analyst estimate would represent a new company quarterly record, surpassing the previous record set in the prior year's same holiday quarter.

Five Below has beaten analyst estimates for revenue in six straight quarters and in eight of the last 10 quarters overall.

Analysts expect Five Below to report fourth-quarter earnings per share of $4.00, versus $3.48 year-over-year.

It beat analyst estimates for earnings per share in five straight quarters; seven of the last 10 quarters overall.

Previous guidance from the company calls for fourth-quarter revenue in a range of $1.58 billion to $1.61 billion and earnings per share in a range of $3.36 to $3.54.

Five Below Analyst Ratings and Price Targets

Telsey analyst Joseph Feldman said Five Below's third-quarter results "blew away expectations" previously. The analyst is one of the few who have raised their price targets on the stock since Q3.

After Q3, Feldman maintained an Outperform rating on Five Below and raised the price target from $170 to $195. The analyst has since taken the price target to $240 since then.

Here are other analyst ratings on Five Below and their price targets:

  • Barclays: Maintained Equal-weight rating, raised price target from $193 to $211
  • JPMorgan: Maintained Overweight rating, raised price target from $246 to $259

Key Items to Watch in Five Below's Q4 Results

Five Below is among the discount retailers to report in recent weeks. Expect more data on consumer shopping habits over the holidays and whether tariffs affected spending.

Dollar Tree (NASDAQ:DLTR) recently reported Q4 financial results with earnings per share. It beat analyst estimates and revenue fell just shy of estimates.

The retailer provided guidance that was in line with analyst estimates.

Analysts and investors will be expecting Five Below's results to come in better than Dollar Tree and guidance to be above estimates, given the strong run for the stock and recent data points.

Data from Placer.ai shows strong visits growth in the fourth calendar quarter, up 11.5% year-over-year. Here are monthly visits gains on a year-over-year basis from the report:

  • September: +2.5%
  • October: +11.3%
  • November: +3.5%
  • December: +5.2%
  • January: +14.7%

The fourth fiscal quarter for Five Below includes the months of November, December and January, which are three of the four strongest months for visits growth out of the last five tracked in the report.

The company raised full-year guidance for both revenue and earnings per share after the third quarter double beat.

Analysts and investors will be watching to see Five Below's new guidance for the next fiscal year, how that compares to the prior year, and whether tariffs are being priced into the results.

The Supreme Court ruling on tariffs could be a key topic, too, considering the retailer imports goods from China.

Five Below Stock Price Action

Five Below shares are up 1.0% to $213.75 on Tuesday versus a 52-week trading range of $52.38 to $229.08. Five Below stick is up 13.5% year-to-date in 2026 and up 187.8% over the last year.

Photo: Retail Photographer / Shutterstock.com