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JOANN First Quarter 2024 Earnings: EPS Misses Expectations

JOANN (NASDAQ:JOAN) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$478.1m (down 4.0% from 1Q 2023).

  • Net loss: US$54.2m (loss widened by 54% from 1Q 2023).

  • US$1.31 loss per share (further deteriorated from US$0.86 loss in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

JOANN EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 113%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Specialty Retail industry in the US.

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Performance of the American Specialty Retail industry.

The company's shares are down 27% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 4 warning signs for JOANN (1 shouldn't be ignored!) that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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