Honest Co. Shares Surge on Positive Revenue Outlook

Dow Jones03-07

Honest Co. shares soared after hours following the release of fourth-quarter financial results that showed revenue increasing and the company swinging to a gain.

After the bell, the company's stock rose 25.7%, above previous 52-week highs, to trade at $4.06 per share. The stock touched a 52-week high of $3.65 on Feb. 26. Shares ended Wednesday's regular session with a 5.35% gain, closing at $3.15 each.

After the bell, the personal-care company reported fourth-quarter earnings per share of one cent on revenue of $90.3 million. In the year-ago period, the company reported a loss per share of 14 cents on revenue of $81.9 million.

Honest said it was expecting full fiscal-year 2024 net revenue growth of low- to mid-single-digit percentage. "Beyond 2024, the company expects to realize revenue growth of 4% to 6% annually and continued adjusted Ebitda margin expansion," it said.

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