SNBR - Sleep Number GAAP EPS of $0.03 beats by $0.04 revenue of $458.79M misses by $12.6M
2023-07-27 16:43:19 ET
- Sleep Number press release ( NASDAQ: SNBR ): Q2 GAAP EPS of $0.03 beats by $0.04 .
- Revenue of $458.79M (-16.4% Y/Y) misses by $12.6M .
- Gross margin was 57.6% and in line with our expectations; as a reminder prior year second quarter results benefitted from the delivery of more than $100 million in margin-rich backlog.
- Outlook: The company updated its full-year 2023 diluted EPS outlook to a range of $1.25 to $1.75. The 2023 outlook assumes net sales are down low to mid-single digits versus the prior year and gross margin improvement of more than 150 basis points versus 2022. The company expects to generate more than $100 million of operating cash flow for the year and positive free cash flows. The company anticipates 2023 capital expenditures of $50 million to $60 million.
- Shares -22.65% .
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Sleep Number GAAP EPS of $0.03 beats by $0.04, revenue of $458.79M misses by $12.6M