Sleep Number Earnings: What To Look For From SNBR

Anthony Lee /
2024/02/21 2:01 am EST

Bedding manufacturer and retailer Sleep Number (NASDAQ:SNBR) will be reporting earnings tomorrow afternoon. Here's what investors should know.

Last quarter Sleep Number reported revenues of $472.6 million, down 12.6% year on year, missing analyst expectations by 7.7%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year and a miss of analysts' revenue estimates.

Is Sleep Number buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Sleep Number's revenue to decline 15.4% year on year to $420.8 million, a deceleration on the 1.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.88 per share.

Sleep Number Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.

Looking at Sleep Number's peers in the home furnishing and improvement retail segment, only Home Depot has so far reported results, with revenues decreasing 2.9% year on year, and beating analyst estimates by 0.3%. Home Depot traded doown 1.2% on the results.

Read our full analysis of Home Depot's earnings results here.

There has been positive sentiment among investors in the home furnishing and improvement retail segment, with the stocks up on average 3.6% over the last month. Sleep Number is down 2.4% during the same time, and is heading into the earnings with analyst price target of $12, compared to share price of $11.4.

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