IRBT - Why iRobot Stock Keeps Falling
2024-03-12 12:42:00 ET
iRobot (NASDAQ: IRBT) stock isn't having a great 2024. Since Amazon.com (NASDAQ: AMZN) confirmed in January that it will walk away from its deal to buy the Roomba maker, iRobot stock has fallen 40%.
It didn't help that the company released its first financial report post-breakup on Feb. 26 showing sales down 14% and a $2.28 per-share loss in Q4. And now, things are getting worse. iRobot just gave investors guidance for Q1 2024, and its stock is down another 4.2% through 11 a.m. ET.
iRobot says Q1 sales will range from $137 million to $142 million, as much as a 14% decline year over year. Losses will be lighter than in Q4, but even so, iRobot will lose at least $2 per share (adjusted for one-time items) and perhaps as much as $2.13.
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Why iRobot Stock Keeps Falling