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The Lovesac Company Down 20.19% To $18.22 After Earnings Beat

Wednesday, December 07, 2022 02:19 PM | InvestorsObserver Analysts

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The Lovesac Company Down 20.19% To $18.22 After Earnings Beat

Lovesac Co (LOVE) beat out earnings estimates for Q3 2023 this morning.

The Lovesac Company's earnings came in at an EPS loss of $0.55 per share, 28.00% higher than estimates for an EPS loss of $0.76 per share. The firm's earnings are down 424% since reporting $0.17 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $134.8 million. That is an increase of 15.52% in revenues from the year-ago report and is 0.24% higher than consensus estimates set at $134.5 million.

The stock is down 20.19% to $18.22 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong 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.

The Lovesac Company has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 23, putting The Lovesac Company in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $19.42 on October 7, 2022 and set a 52-week high on December 10, 2021 at $85.13.

The Lovesac Co designs, manufactures and sells alternative furniture which is comprised of modular couches called sactionals and premium foam beanbag chairs called sacs. It also offers other accessories such as blankets, footsacs, and throw pillows. Its products are sold across the United States through its website or company-owned retail stores which are used in homes and offices. Most of the firm's revenue gets derives from the sale of Sactionals.

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