iRobot (IRBT) Beats Revenue Estimates, Raises Earnings Guidance
iRobot Corporation (IRBT) just released its latest quarterly financial results, posting adjusted earnings $0.66 per share and revenues of $217.1 million.
Currently, IRBT is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have lost about 11.5% over the past month, including a 1.5% loss during regular trading hours today.
The stock is currently up 4.9% to $61.99 per share in after-hours trading shortly after its earnings report was released.
iRobot:
Beat earnings estimates. The company posted adjusted earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.50 per share. Investors should note that this consensus projection has trended downward over the duration of the quarter. Unadjusted earnings of $0.71 per share included a tax benefit of $0.05 per share.
Beat revenue estimates. The company saw revenue figures of $217.1 million, topping our consensus estimate of $215.6 million. Total revenue was up 29% from the year-ago period.
Operating income in the quarter was $25.4 million, up from $21.6 million last year. Management said that revenue growth reached the double digits in all major regions.
“We expect our global business to deliver strong financial performance in 2018 that will fund our ability to reinforce our core product leadership in the RVC category, widen our competitive moat through technological differentiation protected by our IP portfolio, and extend our product portfolio,” said CEO Colin Angle.
iRobot reaffirmed its full-year revenue guidance and increased its expectations for full-year earnings. The company now anticipates 2018 revenue $1.05 to $1.08 billion and EPS of $2.15 to $2.40. It previously guided for full-year earnings in the range of $2.10 to $2.35 per share.
Here’s a graph that looks at iRobot’s recent earnings performance:
iRobot Corporation Price, Consensus and EPS Surprise
iRobot Corporation Price, Consensus and EPS Surprise | iRobot Corporation Quote
iRobot Corporation, the leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home. iRobot created the home robot cleaning category with the introduction of its Roomba Vacuuming Robot in 2002. iRobot's product line, including the Roomba and the Braava family of mopping robots, feature proprietary technologies and advanced concepts in cleaning, mapping and navigation.
Check back later for our full analysis on IRBT’s earnings report!
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