Ihor Bulyhin/iStock through Getty Photographs
Sleep Quantity Corp. (NASDAQ:SNBR) inventory slid in prolonged hours buying and selling on Wednesday after reporting first quarter earnings.
The mattress producer reported GAAP EPS of $0.09, lacking Wall Avenue estimates by a large margin as income got here in at $527.13 million, $7.25 million beneath expectations.
Per the earnings launch, internet gross sales decreased 7% within the quarter whereas demand decreased 3%. Administration blamed the pressure of the Omicron variant, the battle in Ukraine, and the semiconductor scarcity for the underwhelming outcomes.
“Exterior elements proceed to disrupt world provide and weaken shopper confidence, leading to elevated enterprise complexity and volatility,” CEO Shelly Ibach stated in an announcement. “On this dynamic atmosphere, we stay centered on deepening shopper relationships and innovating for broad relevance whereas taking decisive actions to handle near-term pressures.”
The corporate up to date its full-year 2022 diluted EPS outlook to a variety of $5.00 to $6.00 per share, down from or $6.78 to $7.08 forecast within the prior quarter.
Shares fell practically 6% in post-market hours.
