Arhaus Shares Slip After Lower Q3 Results, 2024 Revenue Guidance Reduced

MT Newswires Live11-07

Arhaus (ARHS) shares slipped recent trading Thursday after the company posted lower Q3 results compared with a year ago and reduced its 2024 revenue guidance range.

The home furnishings retailer reported Q3 net and comprehensive income of $0.07 per share, down from $0.14 a year earlier.

Analysts polled by Capital IQ expected $0.08.

Net revenue for the quarter ended Sept. 30 was $319.1 million, down from $326.2 million a year earlier.

Analysts surveyed by Capital IQ expected $328.9 million.

For Q4, the company said it expects net revenue of $306 million to $326 million. Analysts polled by Capital IQ expect $327.5 million.

For the full-year 2024, Arhaus said it now expects net revenue of $1.23 billion to $1.25 billion, down from its prior range of $1.25 billion to $1.29 billion. Analysts surveyed by Capital IQ expect $1.26 billion.

Arhaus shares were 0.8% lower in recent trading.

Price: 8.88, Change: -0.24, Percent Change: -2.69

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