Soho House Shares Gain As Q2 Earnings Exceed Estimates Helped By Strong Membership Revenues
Portfolio Pulse from Shivani Kumaresan
Soho House & Co Inc (NYSE:SHCO) reported Q2 FY23 sales growth of 18.5% YoY to $288.92 million, beating the analyst consensus. Membership revenues increased 35.4% to $89.2 million. Total members climbed 28.3% YoY to 248,071. Adjusted EBITDA increased 106.4% to $31.7 million. The company plans to open new Soho Houses in Mexico City, Portland, and Sao Paulo by the end of the year. SHCO shares are trading higher by 15.4% at $7.07.
August 11, 2023 | 2:13 pm
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Soho House reported strong Q2 FY23 results, beating estimates and showing significant growth in membership revenues. The company's plans for expansion and positive stock performance could attract investor interest.
Soho House's strong Q2 FY23 results, which beat estimates, and the significant growth in membership revenues indicate a positive financial performance. The company's plans to open new locations suggest a strategy for continued growth. The increase in the company's stock price reflects the market's positive reaction to these developments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100