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Sleep Number and other premium mattress brands are dealing with soft consumer demand, impacting sales and profitability. The company expects positive free cash flow in 2024, which has investors excited.
Sleep Number Corporation (SNBR) Q4 2023 Earnings Call Transcript
Sleep Number (SNBR) came out with a quarterly loss of $0.58 per share versus the Zacks Consensus Estimate of a loss of $0.90. This compares to loss of $0.24 per share a year ago.
SNBR's revenue growth has been driven more by price growth than volume growth, indicating it is not a high-growth company. The company has repositioned itself as a wellness technology company, known for its innovative Sleep Number beds. Despite some mixed performance metrics, there is a 30% margin of safety when valuing SNBR based on the Earnings Power Value, making it an investment opportunity.
Sleep Number manufactures and sells beds at a high price point, including smart capabilities through a mobile app. The company has faced challenges with decreasing demand and supply chain issues, along with a likely weakly perceived new product line relaunch. Sleep Number has a number of initiatives to improve earnings, including closings of 40-50 stores, and supply chain & marketing spend optimization.
Sleep, we all need it. But can you profit from it?
Chief Executive Shelly Ibach says the bedding industry has been operating at recessionary levels for two years.
Sleep Number (NASDAQ: SNBR ) stock is taking a beating on Wednesday after the mattress company announced results from its Q3 2023 earnings report. The bad news for investors in SNBR stock starts with the company's diluted earnings per share of -10 cents.
Sleep Number Corporation (NASDAQ:SNBR ) Q3 2023 Results Conference Call November 7, 2023 5:00 PM ET Company Participants Dave Schwantes - VP, Finance and IR Shelly Ibach - Chair, President and CEO Francis Lee - CFO Conference Call Participants Bobby Griffin - Raymond James Peter Keith - Piper Sandler Brad Thomas - KeyBanc Capital Markets Atul Maheswari - UBS Operator Thank you. Welcome to Sleep Number's Q3 2023 Earnings Conference Call.
Shares of Sleep Number Corp. tanked 30% in the after-hours session Tuesday after the mattress maker and retailer swung to a surprise quarterly loss, predicted a loss for the full year and said it reached an agreement with a shareholder that had been pushing for change.