Casper Sleep (NYSE:CSPR) earnings for the online sleep products retailer’s first quarter of 2020 have CSPR stock diving lower on Tuesday. That’s due its losses per share of -$1.23 missing Wall Street’s estimate of -84 cents. While its revenue of $113.04 million is above analysts’ estimates of $110.2 million, it wasn’t enough to keep CSPR from falling.
Here’s what else is worth noting from the most recent Casper Sleep earnings report.
- Per-share losses are 26.8% better than the -$1.68 reported during the same time last year.
- Revenue is also 24.4% higher compared to $89.44 million in the first quarter of 2019.
- Operating loss of -$32.81 million is 93.9% wider year-over-year than -$16.92 million.
- The Casper Sleep earnings report also sees net loss coming in at -$34.47 million.
- That’s 99.9% worse than the company’s net loss of -$17.25 million reported in the same period of the year prior.
Philip Krim, CEO of Casper Sleep, said this about the Q1 earnings report.
“We achieved preliminary revenue growth of over 15% year-over-year in April, led by e-commerce growth of over 35% and retail partnership growth of over 20%. Our DTC channel was up over 15% despite the closure of all of our retail stores throughout April.”
Casper Sleep isn’t providing an outlook for 2020 in its current earnings report. The company cites the economic turmoil that the novel coronavirus is causing as the reason for this. Plenty of other companies are also withholding guidance during this time.
CSPR stock was down 16.7% as of Tuesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
