ARHS - Arhaus reports mixed Q2 earnings; narrows FY23 outlook

2023-08-09 06:33:39 ET

• Arhaus press release ( NASDAQ: ARHS ): Q2 GAAP EPS of $0.29 beats by $0.03 .
• Revenue of $312.9M (+2.2% Y/Y) misses by $14.71M .
• Comparable growth was (0.8)% and demand comparable growth was 11.6% in the second quarter of 2023.
• Adjusted Net Income of $40 million.
• Adjusted EBITDA increased 5.5% to $64 million.

• 2023 Outlook Updated:

  • Net revenue of $1,250 million to $1,290 million vs. consensus of $1.26B.
  • Comparable Growth of (2)% to 1%.
  • Net and Comprehensive Income of $102.5 million to $112.5 million.
  • Adjusted EBITDA of $187.5 million to $197.5 million.
  • "With a successful first half of 2023 behind us, we are narrowing our full year 2023 net revenue outlook and increasing our net income and adjusted EBITDA outlook.

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