ToughBuilt Industries, Inc. (TBLT) Misses Q2 EPS by $1.95

ToughBuilt Industries, Inc. (NASDAQ: TBLT) reported Q2 EPS of ($9.45), $1.95 worse than the analyst estimate of ($7.50). Revenue for the quarter came in at $17.9 million versus the consensus estimate of $18.6 million.

• Michael Panosian, ToughBuilt’s CEO, commented, “The second quarter of 2022 saw sales growth of 13% over the same period last year. We remain focused on expanding the national and global distribution of our product lines and have already seen validating success through partnerships with leading retailers. This expansion of distribution and participating in multiple categories is and will increase revenue to help us reach profitability in 2023.” Panosian continued, “ToughBuilt remains on track to accelerate growth in the second half of the year with the launch of five to ten new product lines and plans to continue to leverage new and existing partnerships. As a result of this initiatives, combined with our cost cutting efforts, we expect to grow approximately 25% in 2022 and are targeting profitability in 2023.”

For earnings history and earnings-related data on ToughBuilt Industries, Inc. (TBLT) click here.

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