iRobot (NASDAQ:IRBT) Releases FY 2024 Earnings Guidance

iRobot (NASDAQ:IRBT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of -3.770–3.310 for the period, compared to the consensus estimate of -3.000. The company issued revenue guidance of $765.0 million-$800.0 million, compared to the consensus revenue estimate of $838.9 million. iRobot also updated its FY24 guidance to ($3.77)-($3.31) EPS.

iRobot Trading Down 16.6 %

NASDAQ IRBT traded down $1.62 during mid-day trading on Thursday, hitting $8.13. The company’s stock had a trading volume of 1,993,124 shares, compared to its average volume of 2,158,675. iRobot has a 52-week low of $6.48 and a 52-week high of $42.14. The stock’s fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $10.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.79 and a quick ratio of 1.15. The firm has a market capitalization of $233.79 million, a P/E ratio of -1.05 and a beta of 0.89.

iRobot (NASDAQ:IRBT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported ($1.96) EPS for the quarter, missing the consensus estimate of ($1.77) by ($0.19). iRobot had a negative net margin of 24.42% and a negative return on equity of 99.56%. The business had revenue of $166.40 million during the quarter, compared to analysts’ expectations of $168.73 million. During the same quarter in the previous year, the business posted ($1.73) EPS. The company’s quarterly revenue was down 29.7% on a year-over-year basis. Research analysts expect that iRobot will post -4.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRBT. StockNews.com downgraded shares of iRobot from a hold rating to a sell rating in a research report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of iRobot in a research report on Thursday.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.