Sleep Number Earnings: What To Look For From SNBR
Bedding manufacturer and retailer Sleep Number (NASDAQ:SNBR) will be reporting results tomorrow after market close. Here’s what you need to know.
Sleep Number missed analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $376.8 million, down 12.3% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates.
Is Sleep Number a buy or sell going into earnings? Read our full analysis here, it’s free .
This quarter, analysts are expecting Sleep Number’s revenue to decline 15.4% year on year to $398 million, a further deceleration from the 10.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
With Sleep Number being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for home furnishing and improvement retail stocks. However, the segment has faced declining investor sentiment as Sleep Number’s peer group is down 2.5% on average over the last month. Sleep Number is up 14.9% during the same time and is heading into earnings with an average analyst price target of $8.33 (compared to the current share price of $7.28).
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