Pet products provider Bark (NYSE:BARK) will be reporting results this Thursday after the bell. Here’s what to look for.
Bark beat analysts’ revenue expectations last quarter, reporting revenues of $78.82 million, down 23.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Bark a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bark’s revenue to decline 18.2% year on year, a further deceleration from the 15.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bark has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Bark’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 7.9%, and Hilton Grand Vacations reported revenues up 50.8%, topping estimates by 39.5%. Hasbro traded up 15.7% following the results while Hilton Grand Vacations was also up 8.2%.
Read our full analysis of Hasbro’s results here and Hilton Grand Vacations’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.7% on average over the last month. Bark is down 1.3% during the same time and is heading into earnings with an average analyst price target of $15.50 (compared to the current share price of $8.00).
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