Nautilus News: NLS Stock Rockets 57% as Consumers Switch to At-Home Fitness

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Nautilus (NYSE:NLS) news for Thursday concerning more people choosing home fitness as the coronavirus from China spread has NLS stock soaring.

Nautilus News: NLS Stock Rockets 57% as Consumers Switch to At-Home Fitness

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According to a Nautilus news release, the company is seeing more orders for workout equipment as customers stay home. As a result, it is increasing EBITDA  guidance for the first quarter of 2020 to be flat to $1.5 million.

The Nautilus news release also includes some preliminary results from its fiscal first quarter of 2020. That includes Direct Segment revenue of $47 million and Retail Segments revenue of $46 million. That represents a  1% and 24% increase year-over-year, respectively.

Jim Barr, Chief Executive Officer of Nautilus, said this about the NLS stock news.

“COVID-19 has created a heightened need for home-fitness products and our company was able to meet customer demand well, through both the Direct and Retail segments. We reversed five quarters of year-over-year sales declines and delivered sales growth of 11% in Q1, 2020 as customers gravitated to key products like the Bowflex SelectTech dumbbells, Bowflex C6 bike, and the Schwinn IC4 bike.”

While the results for Q1 2020 are looking good, Nautilus cautions that this may not be the case in future quarters. It says that the ongoing effects of the coronavirus could result in changes in its business for the long-term. It doesn’t provide guidance for the rest of 2020 in this update.

NLS stock was up 57.08% as of Thursday afternoon and is up 32.6% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/nautilus-news-home-fitness-boosts-nls-stock/.

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