Purple Innovation Q1 2024 Adj EPS $(0.19) Misses $(0.16) Estimate, Sales $120.033M Miss $122.113M Estimate
Portfolio Pulse from Benzinga Newsdesk
Purple Innovation (NASDAQ:PRPL) reported Q1 2024 adjusted EPS of $(0.19), missing the $(0.16) estimate, and sales of $120.033M, missing the $122.113M estimate. This represents an 18.75% miss on EPS and a 1.70% miss on sales estimates, with a 35.71% decrease in EPS and a 12.47% increase in sales year-over-year.
May 07, 2024 | 9:22 pm
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NEGATIVE IMPACT
Purple Innovation reported a larger than expected loss per share and a slight miss in sales for Q1 2024, indicating potential challenges in profitability and revenue growth.
The miss on both the EPS and sales estimates for Purple Innovation suggests potential underlying challenges in the company's operations or market conditions. An 18.75% miss on EPS and a 1.70% miss on sales, coupled with a significant year-over-year decrease in EPS, could lead to negative investor sentiment in the short term, impacting the stock price negatively.
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IMPORTANCE 90
RELEVANCE 100