Sleep Number (SNBR) Q3 Earnings: What To Expect
Bedding manufacturer and retailer Sleep Number (NASDAQ:SNBR) will be reporting earnings tomorrow after market hours. Here's what investors should know.
Last quarter Sleep Number reported revenues of $458.8 million, down 16.4% year on year, missing analyst expectations by 2.7%. It was a weaker quarter for the company, with a miss of analysts' revenue estimates.
Is Sleep Number buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Sleep Number's revenue to decline 5.3% year on year to $511.8 million, improvement on the 15.6% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.
The company missed Wall St's revenue estimates four times over the last two years.
Looking at Sleep Number's peers in the home furnishing and improvement retail segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. Arhaus delivered top-line growth of 1.9% year on year, beating analyst estimates by 2.6% and Floor And Decor reported revenues up 0.9% year on year, missing analyst estimates by 1.4%. Arhaus traded flat on the results, Floor And Decor was down 10.5%.
Read our full analysis of Arhaus's results here and Floor And Decor's results here.
There has been positive sentiment among investors in the home furnishing and improvement retail segment, with the stocks up on average 5.6% over the last month. Sleep Number is down 7.4% during the same time, and is heading into the earnings with analyst price target of $25.7, compared to share price of $16.44.
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The author has no position in any of the stocks mentioned.
