SNBR - Sleep Number GAAP EPS of $0.51 beats by $0.21 revenue of $526.53M misses by $6.58M
2023-04-26 16:03:28 ET
- Sleep Number press release ( NASDAQ: SNBR ): Q1 GAAP EPS of $0.51 beats by $0.21 .
- Revenue of $526.53M (-0.1% Y/Y) misses by $6.58M .
- Gross margin increased 160 bp to 58.9% of net sales, including the benefit of pricing actions, improvement in commodity prices and operating efficiencies resulting from a steady flow of microchips
- Operating income of $26 million represented a $22 million increase versus the prior year, including an $8 million gross profit increase and a $14 million reduction in operating expenses year-over-year
- Generated $19 million in net cash from operating activities in the first quarter, compared with $25 million for the same period last year
- Leverage ratio of 4.0x EBITDAR at the end of the first quarter versus covenant maximum of 5.0x
- Adjusted Return on Invested Capital of 20.4% for the trailing twelve months.
- Reiterates full-year 2023 earnings outlook of $1.25 to $2.00 per diluted share.
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Sleep Number GAAP EPS of $0.51 beats by $0.21, revenue of $526.53M misses by $6.58M