Sleep Number Earnings: SNBR Stock Falls 3% Despite Beating Q2 Estimates

Sleep Number (NASDAQ:SNBR) earnings for the mattress company’s second quarter of 2020 have SNBR stock falling after-hours on Wednesday. This is despite its diluted losses per share of 45 cents coming in above Wall Street’s estimate for a loss of 80 cents per share. Its revenue of $284.94 million also beats out analysts’ estimates of $216.36 million.

Sleep Number (SNBR) sign on a Sleep Number store in Columbus, Ohio.

Source: Eric Glenn/Shutterstock.com

Let’s take a closer look at the most recent Sleep Number earnings report below.

  • Diluted per-share losses are a negative change from the company’s diluted EPS of 14 cents reported during the same time last year.
  • Revenue for the quarter comes in 20% lower than the $355.96 million from the second quarter of 2020.
  • An operating loss of $12.13 million is a massive drop year-over-year from an operating income of $7.25 million.
  • The Sleep Number earnings report also includes a net loss of $12.63 million.
  • That’s doesn’t stack up well next to the company’s net income of $4.28 million from the same period of the year prior.

Shelly Ibach, president and CEO of Sleep Number, said this in the earnings report.

“The mission of Sleep Number has never been more important or more relevant than it is today. The pandemic has heightened individuals’ concerns about their immunity and resilience, and there is increased understanding that sleep is vital for healthy living.”

Sleep Number isn’t providing an outlook in its current earnings report. It attributes this decision to the novel coronavirus pandemic. Many other companies are also withholding guidance at this time.

SNBR stock was down 2.9% after-hours Wednesday after closing out normal trading hours up 3.7%.

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/2020/07/sleep-number-earnings-hit-snbr-stock/.

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