iMedia Brands' Preliminary Q4 Results Exceed Expectations, Reaffirms FY22 Outlook

  • iMedia Brands Inc IMBI reported select preliminary financial results for Q4 and FY21, along with reaffirming its guidance for FY22.
  • The company expects Q4 net sales of at least $190 million, representing a ~52% increase year-on-year and above the consensus of $176.6 million.
  • The company expects a Q4 EPS loss of $(0.23) against the consensus of $(0.25).
  • For FY21, the company expects net sales to be $547 million (consensus $533.92 million) and EPS loss of $(1.15).
  • "Q4 was an exceptional quarter for us with the highest revenue growth in a decade," said CEO Tim Peterman.
  • In addition, iMedia reiterated its FY22 outlook provided on November 17, 2021. It anticipates revenue of $675 million - $725 million (consensus $693.63 million), adjusted EBITDA of $50 million - $60 million, and reporting positive quarterly EPS beginning in the back half of 2022.
  • iMedia expects to report its Q4 results on March 22, 2022.
  • Price Action: IMBI shares closed higher by 5.37% at $6.28 on Friday.

Posted In: BriefsEarningsNewsGuidance

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