NLS - Why Nautilus Stock Is Tumbling Today
Shares of Nautilus (NYSE: NLS) were tumbling over 15% Tuesday morning after the home fitness equipment maker reported third-quarter earnings after the market's close yesterday.
Nautilus said it delivered "record results" for the period, with sales surging 152% to $155.4 million and generating operating income of $44 million, the highest in company history.
It noted the company doesn't plan to provide specific guidance on an ongoing basis, but said the unique state of the market made it necessary to update investors on where it sees the business heading. Nautilus said it is forecasting full-year sales of between $540 million and $565 million, a 75% to 83% increase over last year. It suggests fourth-quarter sales should double or more from 2019.
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Why Nautilus Stock Is Tumbling Today