Lovesac Q4 Profit Down, But Beats Estimates; Sees Wider Q1 Loss Than Consensus View – Update
For first quarter, Lovesac Co (LOVE) expects per share net loss wider than analysts’ estimates, and sales in line.
For the three-month period, the company expects net loss of $5 million or $0.36 per share – $6 million or $0.37 per share. On average, four analysts polled by Thomson-Reuters, expect the company to post net loss per share of $0.06, for the quarter. Analysts’ estimates exclude one-time items.
For the quarter, the home furnishing brand expects sales of $133 million – $136 million. Analysts, on average, expect the company to register sales of $134.3 million.
For the full year, Lovesac sees net income per share in line with analysts’ estimates, and sales above view. Net income is expected at $30 million or $1.83 per share – $36 million or $2.24 per share. Analysts, on average, expect the company to register net income per share of $2.1 per share. Sales for the year are expected in the range of $700 million – $740 million, whereas the Street expects $692.31 million.
For the fourth quarter, Lovesac reported earnings that decreased from last year but beat the Street estimates.
The company’s bottom line came in at $27.644 million, or $1.74 per share. This compares with $32.640 million, or $2.03 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $1.72 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 21.7% to $238.847 million from $196.198 million last year.
Lovesac Co Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $27.644 Mln. vs. $32.640 Mln. last year.
-EPS (Q4): $1.74 vs. $2.03 last year.
-Analyst Estimates: $1.72
-Revenue (Q4): $238.847 Mln vs. $196.198 Mln last year.
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