SNBR - Sleep Number overcomes supply chain issues to post quarterly beat

Sleep Number Corporation (SNBR +3.4%) shares remain elevated after the company posted an earnings beat Wednesday afternoon. After blaming supply chain problems for a miss in Q2, Sleep Number pursued a range of solutions, including working directly with second and third tier suppliers, employing market brokers, bots and other digital tools in expediting shipping including airfreight. Still, the company says there remains some risk of electronic component shortages in the near-term. On the positive side, "Suppliers have made stronger commitment for electronic component deliveries in Q1 than we've had in the back half of 2021," said CEO Shelly Ibach. FY 21 Outlook: Sleep Number expects adjusted EPS of $7.25 vs consensus of $7.13. The timing of receiving electronic components could elongate some of our customer deliveries into the first quarter of 2022, notes the company, adding that it needs to achieve Q4 revenue around $600M-$610M vs Q3 revenue of $640M and consensus

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Sleep Number overcomes supply chain issues to post quarterly beat