Loading...
•
Apr 01, 2023
Sleep Number Q1 2023 Earnings Report
Reported consistent financial results with prior year and increased net operating profit.
Key Takeaways
Sleep Number reported net sales of $527 million, consistent with the prior year. Net operating profit increased to $26 million, up $22 million versus the prior year. Diluted EPS was $0.51 compared to $0.09 last year. The company reiterates its full-year 2023 earnings outlook of $1.25 to $2.00 per diluted share.
Net sales of $527 million were consistent with the prior year.
Net operating profit increased to $26 million, up $22 million versus the prior year, including a 160 basis point (bp) gross profit rate improvement year-over-year.
Diluted EPS of $0.51 versus $0.09 last year.
Reiterates full-year 2023 earnings outlook of $1.25 to $2.00 per diluted share.
Forward Guidance
The company reiterates its outlook for 2023 diluted EPS of $1.25 to $2.00. The 2023 outlook assumes net sales are flat to down mid-single digits versus the prior year and gross margin improves by more than 150 basis points versus 2022. The company expects to generate more than $100 million of operating cash flow for the year and positive free cash flows. The company anticipates 2023 capital expenditures of $50 million to $60 million and is planning no share repurchases under our Board-approved share repurchase program during the year.
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...