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Pet products provider Bark (NYSE: BARK)
will be announcing earnings results tomorrow after market hours. Here’s what you need to know.
Bark met analysts’ revenue expectations last quarter, reporting revenues of $126.4 million, up 1.1% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ adjusted operating income estimates. It reported 3,332 orders, down 4.9% year on year.
This quarter, analysts are expecting Bark’s revenue to grow 5.5% year on year to $128.2 million, a reversal from the 3.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bark has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Bark’s peers in the toys and electronics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 17.1%, beating analysts’ expectations by 14.8%, and Mattel reported revenues up 2.1%, topping estimates by 4.4%. Hasbro traded up 15.9% following the results while Mattel was also up 2.9%.
There has been positive sentiment among investors in the toys and electronics segment, with share prices up 3.9% on average over the last month. Bark is up 12.5% during the same time and is heading into earnings with an average analyst price target of $3 (compared to the current share price of $1.26).
