iRobot Provides Preliminary Q1 EPS $(2.13)-$(2.00) Vs $(1.98) Est.; Revenue $137M-$142M Vs $158.62M Est.; Reiterates FY24 EPS Outlook Of $(3.73)-$(3.30) Vs $(3.58) Est.; Revenue $825M-$865M Vs $837.71M Est.
Portfolio Pulse from Benzinga Newsdesk
iRobot Corp. (NASDAQ:IRBT) announced its Q1 2024 preliminary financial results, with EPS and revenue below estimates but reiterated its FY24 outlook. Q1 EPS is expected between $(2.13) and $(2.00), against an $(1.98) estimate, and revenue between $137M and $142M, below the $158.62M estimate. The company maintains its full-year 2024 EPS outlook of $(3.73) to $(3.30) versus a $(3.58) estimate, and revenue forecast of $825M to $865M, compared to an $837.71M estimate. iRobot expects a revenue decline in the first half of 2024 but anticipates a mid-single-digit percentage revenue improvement in the second half.
March 11, 2024 | 8:19 pm
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iRobot Corp. reported preliminary Q1 2024 financial results with lower than expected EPS and revenue, but reaffirmed its full-year 2024 financial outlook.
The preliminary Q1 2024 financial results from iRobot showing both EPS and revenue below analyst estimates could negatively impact investor sentiment and stock price in the short term. However, the company's reiteration of its full-year 2024 outlook suggests management confidence in future performance, which might mitigate some negative impact. The expected revenue decline in the first half of 2024, particularly with Q2 being the weaker quarter, further supports a cautious short-term outlook. The anticipation of revenue improvement in the second half of the year is positive, but its impact is more likely to be seen in the longer term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100