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Jun 30, 2021
cbdMD Q3 2021 Earnings Report
Reported steady year-over-year net sales and earnings of $.02 per share.
Key Takeaways
cbdMD, Inc. reported net sales of $10.6 million for the third quarter of fiscal 2021, remaining steady year-over-year. The company announced earnings of $.02 per share for the quarter. However, due to product production delays from vendors on new product launches, the company reduced its Q1 fiscal 2022 net sales guidance to a range of $14.9 million to $15.5 million.
Net sales of $10.6 million remained steady year-over-year.
Gross profit margin remained strong at approximately 68%, up from 65% in the prior year’s third quarter.
E-commerce direct-to-consumer net sales were $7.8 million, a decrease of 4.9% from the prior year’s third fiscal quarter.
Net income attributable to common shareholders was approximately $977,000, or $0.02 per share.
cbdMD
cbdMD
Forward Guidance
Due to production delays from vendors on new product launches, the company is revising its net sales guidance for the first quarter of fiscal 2022 ending December 31, 2021 from a range of $15.5 million to $16.25 million to a range of $14.9 million to $15.5 million, or 20-25% YOY sales growth for the December, 2021 quarter.