At Home Group (HOME) Reports Prelim. Q3 Revenues Beat

At Home Group (NYSE: HOME) reported Q3 EPS of $0.60, $0.25 better than the analyst estimate of $0.35. Revenue for the quarter came in at $470 million versus the consensus estimate of $408.6 million.

• Announces preliminary1 Q3 net sales growth of approximately 47% and a comparable store sales2 increase of approximately 44%
• Expects preliminary1 Q3 EPS of $0.58 to $0.62, including $(0.04) impact of debt refinancing costs
• Estimates total liquidity of more than $350 million
• Anticipates lowest leverage ratio since IPO
• Insider Perks program grows 42% year-over-year to 8.3 million members

Lee Bird, Chairman and Chief Executive Officer, stated, “At Home’s third quarter comparable store sales growth of 44% established a new high watermark for our business, even higher than our record second quarter. We believe we are continuing to gain meaningful market share and emerge as a major winner in the home décor space. The successful execution of our At Home 2.0 strategies, including EDLP+ campaigns, category reinventions, loyalty program expansion and omnichannel offerings, along with our healthy balance sheet, leave us well-positioned to thrive. We also expect to remain a beneficiary of favorable macro trends such as nesting and de-urbanization.”

Mr. Bird continued, “Looking ahead, our exciting new holiday assortment is now available in stores as well as online for curbside pickup and local delivery. Our new partnership with Postmates through PICKUP will expand our local delivery platform and add speed and convenience for our customers, just in time for a busy holiday season.”

Preliminary1 Third Quarter Fiscal 2021 Results

• Net sales of approximately $470 million, representing 47% growth year-over-year
• Comparable store sales2 increase of approximately 44%
• EPS of $0.58 to $0.62, including a $(0.04) impact of debt refinancing costs, as compared to EPS of $(0.23) and adjusted EPS2 of $0.00 in the third quarter of fiscal 2020
• Total liquidity (cash plus availability under our existing credit facility) of more than $350 million
• Anticipates significant improvement in leverage ratio to lowest level since initial public offering

For earnings history and earnings-related data on At Home Group (HOME) click here.

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