iRobot shares plummet after-hours as the company expects major hit from tariffs
iRobot estimates it will lose $5 million in net income next quarter from tariffs.
The company beat analysts estimates in its revenue and earnings per share for the third quarter.
The company reported $1.12 a share, while analysts estimated the EPS to be 48 cents a share.
iRobot IRBT shares fell more than 10 percent during after-hours trading Tuesday as the company said it estimates it will lose $5 million next quarter from tariffs. The company's net income for the third quarter was $37 million.
However, the company, which is best known for its robotic vacuum cleaners, mops and pool cleaners, beat analysts estimates in its revenue and earnings per share for the third quarter.
The company reported earnings of $1.12 per share, while analysts estimated the EPS to be 48 cents a share. In revenue, the company beat estimates of $245 million, reporting $264 million this quarter.
iRobot raised its full-year guidance for earnings per share to a range of $2.55 to $2.75 a share and sales to $1.08 billion to $1.09 billion. iRobot shares have risen 20 percent this year.
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