Lovesac Q3 EPS $(0.15) May Not Be Comparable To $(0.30) Estimate, Sales $154.04M Beat $153.81M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lovesac (NASDAQ:LOVE) reported Q3 earnings with losses per share of $(0.15), outperforming the consensus estimate of $(0.30) by 50%. Year-over-year, this represents a 68.75% improvement from $(0.48) per share. Quarterly sales reached $154.04M, slightly surpassing the $153.81M estimate and marking a 14.28% increase from the previous year's $134.78M.
December 06, 2023 | 12:03 pm
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Lovesac reported better-than-expected Q3 earnings, with a loss per share of $(0.15) compared to the estimated $(0.30), and sales that slightly exceeded expectations at $154.04M. The company also showed significant improvement compared to last year's results.
Lovesac's positive earnings report, with both a narrower loss and higher sales than expected, is likely to instill investor confidence and could lead to a short-term increase in stock price. The significant year-over-year improvement further emphasizes the company's growth trajectory, which is typically viewed favorably by investors.
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