20.6 C
Sunday, October 1, 2023

The Honest Company Beats Views Since IPO In First Earnings

Must read

Jessica Alba’s Company Beats Views Since IPO In First Earnings

The Honest Company after the close topped first-quarter estimates. The founder of the company – which sells wipes, diapers, beauty and cleaning products, as well as personal-care items – is actress Jessica Alba. This report from the company is the first since its trading debut last month.

The Company Earnings

Estimates: According to FactSet, Wall Street predicts that The Honest Company might lose 6 cents per share. They expected the Revenue to come in at $79.4 million.

Results: they estimated a loss of 5 cents per share as Revenue rose 13% to $82 million. But sales of wipes and diapers, the most significant segment, dipped 3% to $49.5 million.

Personal and skincare sales jumped 43% to $26.3 million. Wellness and Household sales surged 54% to $5.3 million.

Digital channel revenue increased by 3% to $42.6 million.

Honest Company Stock

The Honest Company stock experienced a drop by 1.5% after closing down 3.46% at 17.66 in the stock market today, forming an IPO base with a buy point of 23.99. Shares have a Composite Rating of 32. Their EPS Rating is 17.

In May, Honest Company stock began to trade. Alba founded the company to make wellness products even more transparent. The company also said it hoped to attract people deeply focused on health after the coronavirus pandemic shut affected daily life last year.

However, in recent years, lawsuits and recalls have raised questions about Honest’s products. Still, some analysts like the company’s prospects.

This month, William Blair analysts said Honest was popular but still could grow in a multibillion-dollar market.

They said that The Honest Company consumer has a 15% higher average in dollars than the average Target consumer, making consumers attractive to retailers.

However, they said that some of Honest’s rivals have deeper pockets. They added that its beauty business faces some risks around changing trends.

The post The Honest Company Beats Views Since IPO In First Earnings appeared first on FinanceBrokerage.

Source link

More articles

Latest article