Yahoo Finance What To Expect From Sleep Number's (SNBR) Q2 Earnings
Bedding manufacturer and retailer Sleep Number (NASDAQ:SNBR) will be announcing earnings results tomorrow after market hours. Here's what you need to know.
Sleep Number met analysts' revenue expectations last quarter, reporting revenues of $470.4 million, down 10.7% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Sleep Number a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Sleep Number's revenue to decline 9.3% year on year to $416.2 million, improving from the 16.4% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.31 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sleep Number has missed Wall Street's revenue estimates four times over the last two years.
With Sleep Number being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unravel for home furnishing and improvement retail stocks. However, there has been positive investor sentiment in the segment, with share prices up 4% on average over the last month. Sleep Number is up 19.5% during the same time and is heading into earnings with an average analyst price target of $13.16 (compared to the current share price of $10.78).
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