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Sep 30, 2023
Solo Brands Q3 2023 Earnings Report
Reported strong results driven by retail sales and brand momentum.
Key Takeaways
Solo Brands reported an 8.0% increase in net sales to $110.3 million and a net income of $3.1 million, up 176.7% compared to the third quarter of 2022. The company's wholesale revenues increased significantly, offsetting a decrease in direct-to-consumer revenues. They reaffirm full year 2023 guidance.
Net sales increased by 8.0% to $110.3 million.
Net income increased by 176.7% to $3.1 million.
Wholesale revenues increased by 114.3% to $34.0 million.
Adjusted EPS increased to $0.28 per diluted share.
Forward Guidance
Solo Brands continues to expect revenue to be in the range of $520 to $540 million, with the most likely outcome at the midpoint of that range of $530 million. They also continue to expect to deliver Adjusted EBITDA margin of between 17% to 18% for the full year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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