Categories AlphaGraphs, Earnings, LATEST, Technology

iRobot’s stock tumbles after Q2 revenues miss estimates

iRobot (NASDAQ: IRBT) topped earnings estimates for the second quarter of 2019 but revenues missed expectations, sending the stock crashing 15.9% in after-market hours on Tuesday.

Total revenue of $260.2 million rose 15% year-over-year, driven by double-digit expansion in all major geographic regions, but fell short of consensus estimates of $267.9 million.

iRobot reports second quarter 2019 earnings results

Net income was $7.2 million, or $0.25 per share, compared to $10.4 million, or $0.37 per share, in the year-ago quarter. Adjusted EPS totaled $0.48. Analysts had forecasted earnings of $0.03 per share.

In the second quarter, revenues grew 12% in the US and 18% internationally. The company also launched the Roomba s9 vacuum and Braava jet m6 mop during the period.

Colin Angle, CEO of iRobot said, “The successful launch of our new Roomba s9 vacuums and Braava jet m6 mops at the end of May represented an important milestone in our plans to strengthen Roomba leadership, extend the portfolio beyond vacuuming and advance our position in the Smart Home.”

iRobot expects the impacts of the US-China trade war and the recently implemented 25% tariffs to constrain its US market segment growth in the second half of the year. Based on the year-to-date performance and the impact of tariffs on domestic segment growth, the company revised its guidance for the full year of 2019.

iRobot now expects revenues to grow approx. 10-14% year-over-year to a range of $1.2-1.25 billion.  This compares to the previous range of $1.28-1.31 billion. EPS is expected to be $2.40-3.15 versus the prior outlook of $3.15-3.40.  

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

ISRG Earnings: Intuitive Surgical Q2 profit jumps on strong revenue growth

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the second quarter of 2024, reporting higher revenues and adjusted profit. Second-quarter net profit, excluding one-off items, climbed

Infographic: Halliburton (HAL) reports strong earnings growth for Q2 2024

Energy giant Halliburton Company (NYSE: HAL) Friday announced financial results for the second quarter of 2024, reporting a double-digit increase in net profit. Second-quarter revenue edged up 1% annually to

AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results

American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top