Lovesac Shares Gain On Q2 Earnings Beat

Loading...
Loading...
  • Lovesac Co LOVE reported second-quarter FY23 sales growth of 45% year-on-year to $148.50 million, beating the consensus of $125.37 million.
  • Comparable sales for the quarter grew 31.1% versus last year.
  • Gross profit rose 37.1% Y/Y to $80.9 million, with the margin contracting 310 basis points to 54.5%.
  • Total operating expenses climbed 42% Y/Y to $71 million. The operating margin contracted 210 basis points to 6.7%, and operating income for the quarter was $9.9 million. Adjusted EBITDA of $14.1 million increased 13.6% Y/Y.
  • EPS of $0.45 fell 13.5% from $0.52 last year, topping the consensus of $0.41.
  • Lovesac held $17.7 million in cash and equivalents as of July 31, 2022. Net cash used in operating activities for Q2 totaled $(37.6) million.
  • Price Action: LOVE shares traded higher by 5.75% at $31.60 in premarket on the last check Thursday.
  • Photo Via Company
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsSmall CapMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...