Sleep Number Corporation (NASDAQ: SNBR) reported Q4 EPS of ($0.58), $0.30 better than the analyst estimate of ($0.88). Revenue for the quarter came in at $430 million versus the consensus estimate of $420.78 million.

Financial Outlook

The company expects mattress industry demand to remain pressured in 2024. Against this backdrop, the company expects adjusted EBITDA of $125 million to $145 million in 2024, with net sales down mid-single digits versus prior year on a low-single digit demand decline. The company expects approximately 100 basis points of gross margin rate improvement and $12 million of restructuring charges for the year. The company expects to generate $60 million to $80 million of free cash flow with capital expenditures of $30 million.

For earnings history and earnings-related data on Sleep Number Corporation (SNBR) click here.