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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.
MINNEAPOLIS--(BUSINESS WIRE)--Sleep Number Corporation (Nasdaq: SNBR) will release its fiscal third quarter results through September 30, 2023, after market close on Tuesday, November 7, 2023. Management will host its regularly scheduled conference call to discuss the company's results at 5 p.m. EST (4 p.m. CST; 2 p.m. PST). To access the webcast, please visit the investor relations area of the Sleep Number website at https://ir.sleepnumber.com. The webcast replay will remain available for appr.
Sleep Number's business is negatively impacted by higher interest rates. Fortunately, the company isn't immediately impacted by macroeconomic conditions because it maintains a backlog of orders it works through.
Sleep Number is seeing declining sales as we come out of the COVID-19 pandemic. The company cannot generate consistent cash flow.
Sleep Number has a high-quality business model. Sleep Number is working through short-term challenges. I am willing to look foolish owning Sleep Number to take advantage of its long-term potential.
Sleep Number posted sharp declines in sales and profits and cut its guidance for the year. Management expects demand to improve in the second half as it launches its next-gen portfolio.
Sleep Number (NASDAQ: SNBR ) stock is falling on Friday following the release of its latest earnings report and a new CFO. That earnings report starts with earnings per share of 3 cents.
Sleep Number (SNBR) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to earnings of $1.54 per share a year ago.