Eyewear retailer Warby Parker (NYSE: WRBY) will be reporting earnings this Thursday morning. Here’s what to expect.
Warby Parker beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $214.5 million, up 13.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations.
Is Warby Parker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Warby Parker’s revenue to grow 16.6% year on year to $224.3 million, improving from the 13.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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. Warby Parker has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.1% on average.
With Warby Parker being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for specialty retail stocks. However, the segment has faced declining investor sentiment as Warby Parker’s peer group is down 7.4% on average over the last month. Warby Parker is down 22.5% during the same time and is heading into earnings with an average analyst price target of $26.58 (compared to the current share price of $19.65).
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