Brilliant Earth Group Inc (BRLT) beat out earnings estimates for Q4 2023 this afternoon.
Wall Street earnings per share (EPS) projections for Brilliant Earth Group Inc Cl A were at $0.01. The company beat those estimates with an EPS of $0.04. The earnings per share of $0.04 (which represents a -300% EPS surprise) led to the company's profits falling 50% compared to last year when the firm reported an EPS of $0.08. The decline in Brilliant Earth Group Inc Cl A's annual growth rate represents how the business isn't performing well amid current economic conditions.
Revenues were downbeat at $124.3 million. That is an increase of 3.93% in revenues from the year-ago report and is 0.25% lower than consensus estimates set at $124.6 million.
The stock is up 7.11% to $2.71 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Brilliant Earth Group Inc Cl A has performed a little below average during the past few months. Before the report, Brilliant Earth Group Inc Cl A received a Long-Term Technical Rank by InvestorsObserver of 31, putting it in the bottom half of stocks. The firm set a 52-week low on November 16, 2023 at $2.04 and set a 52-week high on July 20, 2023 at $4.29.
Brilliant Earth Group, Inc. designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms. The company was founded in 2005 and is headquartered in San Francisco, California.