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Sep 30, 2024
Arhaus Q3 2024 Earnings Report
Arhaus reported third quarter results, demonstrating commitment to operational excellence amidst a challenging environment.
Key Takeaways
Arhaus reported a decrease in net revenue to $319 million compared to $326 million in Q3 2023. Net income decreased to $10 million, and adjusted EBITDA was $23 million. The company is adjusting its full-year sales and earnings outlook to reflect a tempered consumer environment.
Net revenue for the third quarter was $319 million.
Comparable growth was (9.2)%.
Net and comprehensive income was $10 million.
Adjusted EBITDA was $23 million.
Forward Guidance
Arhaus provided its updated expectations for the full year 2024 and Q4 2024.
Positive Outlook
- Net revenue is expected to be $1.23 billion to $1.25 billion for the full year and $306 million to $326 million for Q4.
- Net income is projected to be $55 million to $60 million for the full year and $8 million to $13 million for Q4.
- Adjusted EBITDA is anticipated to be $115 million to $125 million for the full year and $23 million to $33 million for Q4.
- Company-funded capital expenditures are estimated at ~$80 million for the full year.
- Depreciation & amortization is projected at ~$40 million for the full year.
Challenges Ahead
- Comparable growth is expected to be (12)% to (11)% for the full year and (22)% to (16)% for Q4.
- Reflects a continued tempered consumer environment.
- Legal costs impacted selling, general, and administrative expenses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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