Sleep Number Announces Second Quarter 2020 Results
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Sleep Number (SNBR) PT Raised to $70 at Piper Sandler
July 16, 2020 9:24 AM EDTPiper Sandler analyst Peter Keith raised the price target on Sleep Number (NASDAQ: SNBR) to $70.00 (from $65.00) while maintaining an Overweight rating.
The analyst commented, "We reiterate our OW and raise our PT to $70 (20x 2021E EPS) following Q2 earnings as results confirmed... More
Raymond James Reiterates Market Perform Rating on Sleep Number (SNBR) Following 2Q
July 16, 2020 7:19 AM EDTRaymond James analyst Bobby Griffin reiterated a Market Perform rating on Sleep Number (NASDAQ: SNBR) following the company's 2Q earnings report. EPS of $(0.45) beat the $(0.61) consensus. Sales decreased ~20% y/y to ~$285 million, above the consensus of $251 million.
Reflecting the better than anticipated recovery,... More
Sleep Number Corporation (SNBR) Tops Q2 EPS by 35c, Revenues Beat
July 15, 2020 4:03 PM EDTSleep Number Corporation (NASDAQ: SNBR) reported Q2 EPS of ($0.45), $0.35 better than the analyst estimate of ($0.80). Revenue for the quarter came in at $285 million versus the consensus estimate of $216.36 million.
Second Quarter Overview
Second quarter financial results reflect the significant impact of COVID-19Net sales were $285 million, down 20% compared with $356 million last yearGross profit rate of 57.2%, compared with 61.0% last year, reflecting product mix changes and sales deleverage as a result of COVID-19Operating expense reduction of $35 million or 17% versus prior year, reflects immediate actions taken to reduce... More