Loading...
•
Mar 28, 2020
iRobot Q1 2020 Earnings Report
iRobot's first-quarter revenue was impacted by COVID-19 and supply chain disruptions, but better-than-expected gross margins and cost adjustments softened the impact on profitability.
Key Takeaways
iRobot reported a decrease in revenue for the first quarter of 2020, impacted by COVID-19 and supply chain challenges. The company initiated cost-reduction actions to drive savings and was granted an exclusion from Section 301 tariffs.
First-quarter revenue decreased by 19% year-over-year to $192.5 million due to COVID-19 related disruptions.
GAAP operating loss was $20.2 million, compared to an operating income of $22.3 million in the first quarter of 2019.
The company initiated cost-reduction actions expected to drive $30 million in net savings during 2020.
iRobot was granted an exclusion from Section 301 tariffs for its Roomba robot vacuums.
Revenue by Geographic Location
Forward Guidance
iRobot withdrew its financial expectations for 2020 due to the uncertainty surrounding COVID-19 and the evolving tariff exclusion process. The company is not updating its outlook at this time.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...