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Purple Innovation (PRPL) Q3 Earnings Coming Up: What to Expect
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Purple Innovation, Inc. (PRPL - Free Report) is expected to report third-quarter 2023 results on Nov 9, after the closing bell. The leading premium mattress company is anticipated to witness an increase in the top line in the to-be-reported quarter. The Zacks Consensus Estimate for quarterly revenues is pegged at $160 million, indicating a rise of about 12% from the prior-year quarter’s reported figure.
The consensus estimate for a loss of 2 cents per share compares unfavorably with the year-ago quarter’s earnings of 3 cents a share. The consensus mark has been unchanged in the past 30 days.
In the last reported quarter, the company posted a negative earnings surprise of 66.7%. However, it has delivered an earnings surprise of 6.1%, on average, in the trailing four quarters.
Factors to Note
Purple Innovation’s quarterly performance is expected to have gained from the innovative product line, brand development and expansion strategies. Its top line during the third quarter is likely to have benefited from consumers’ enhanced spending on products, which aid comfortable living. It has also been making cost-control efforts to boost efficiency.
We note that Purple Innovation has been gaining from growth in its direct-to-consumer (DTC) channel, backed by consumers’ enhanced inclination toward online services. In order to effectively capture accelerated growth in e-commerce, the company has been on track to ramp up fulfillment center capabilities as well as production. Such efforts are likely to have favored the DTC channel’s growth during the quarter under review. The Zacks Consensus Estimate for DTC revenues is pegged at $89 million, reflecting growth of 30.9% from the preceding quarter.
However, the company’s third-quarter results are likely to continue reflecting the impacts of the ongoing shift in demand for home-related products and inflationary pressures on discretionary consumer spending. These factors, coupled with any deleverage in operating expenses, are likely to have weighed on the company’s bottom-line performance during the quarter under review.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Purple Innovation this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as you can see below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
The Zacks Consensus Estimate for its third-quarter 2023 revenues is pegged at $368 million, which suggests growth of 31.2% from the figure reported in the prior-year quarter.
The consensus estimate for Inter Parfums’ quarterly earnings has moved up a couple of cents in the past 30 days to $1.27 per share, suggesting a decline of 2.3% from the year-ago quarter’s reported number. IPAR’s earnings beat the consensus estimate in the trailing four quarters, delivering an earnings surprise of 45.9%, on average.
Walmart (WMT - Free Report) currently has an Earnings ESP of +1.02% and a Zacks Rank of 2. The company’s bottom line is expected to remain flat year over year when it reports third-quarter fiscal 2024 numbers. The consensus estimate for quarterly earnings per share is currently pegged at $1.50.
Walmart’s top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $159.1 billion, which indicates a rise of 4.1% from the figure reported in the prior-year quarter. WMT has a trailing four-quarter earnings surprise of 11.6%, on average.
Performance Food Group (PFGC - Free Report) currently has an Earnings ESP of +3.13% and a Zacks Rank of 3.
PFGC is expected to register a bottom-line increase when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for earnings is pinned at $1.11 per share, indicating a rise of 2.8% from the year-ago quarter’s number.
The company’s revenues are anticipated to increase year over year. The consensus mark for the same is $15 billion, indicating a jump of 1.9% from the figure reported in the year-ago quarter. PFGC has a trailing four-quarter average earnings surprise of 15.9%.
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Purple Innovation (PRPL) Q3 Earnings Coming Up: What to Expect
Purple Innovation, Inc. (PRPL - Free Report) is expected to report third-quarter 2023 results on Nov 9, after the closing bell. The leading premium mattress company is anticipated to witness an increase in the top line in the to-be-reported quarter. The Zacks Consensus Estimate for quarterly revenues is pegged at $160 million, indicating a rise of about 12% from the prior-year quarter’s reported figure.
The consensus estimate for a loss of 2 cents per share compares unfavorably with the year-ago quarter’s earnings of 3 cents a share. The consensus mark has been unchanged in the past 30 days.
In the last reported quarter, the company posted a negative earnings surprise of 66.7%. However, it has delivered an earnings surprise of 6.1%, on average, in the trailing four quarters.
Factors to Note
Purple Innovation’s quarterly performance is expected to have gained from the innovative product line, brand development and expansion strategies. Its top line during the third quarter is likely to have benefited from consumers’ enhanced spending on products, which aid comfortable living. It has also been making cost-control efforts to boost efficiency.
We note that Purple Innovation has been gaining from growth in its direct-to-consumer (DTC) channel, backed by consumers’ enhanced inclination toward online services. In order to effectively capture accelerated growth in e-commerce, the company has been on track to ramp up fulfillment center capabilities as well as production. Such efforts are likely to have favored the DTC channel’s growth during the quarter under review. The Zacks Consensus Estimate for DTC revenues is pegged at $89 million, reflecting growth of 30.9% from the preceding quarter.
However, the company’s third-quarter results are likely to continue reflecting the impacts of the ongoing shift in demand for home-related products and inflationary pressures on discretionary consumer spending. These factors, coupled with any deleverage in operating expenses, are likely to have weighed on the company’s bottom-line performance during the quarter under review.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Purple Innovation this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as you can see below. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
PURPLE INNOVATION, INC. Price and Consensus
PURPLE INNOVATION, INC. price-consensus-chart | PURPLE INNOVATION, INC. Quote
Purple Innovation has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell), making surprise prediction difficult.
Stocks Poised to Beat Earnings Estimates
Here are a few companies, which according to our model, have the right combination of elements to come up with an earnings beat this reporting cycle:
Inter Parfums (IPAR - Free Report) has an Earnings ESP of +8.09% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for its third-quarter 2023 revenues is pegged at $368 million, which suggests growth of 31.2% from the figure reported in the prior-year quarter.
The consensus estimate for Inter Parfums’ quarterly earnings has moved up a couple of cents in the past 30 days to $1.27 per share, suggesting a decline of 2.3% from the year-ago quarter’s reported number. IPAR’s earnings beat the consensus estimate in the trailing four quarters, delivering an earnings surprise of 45.9%, on average.
Walmart (WMT - Free Report) currently has an Earnings ESP of +1.02% and a Zacks Rank of 2. The company’s bottom line is expected to remain flat year over year when it reports third-quarter fiscal 2024 numbers. The consensus estimate for quarterly earnings per share is currently pegged at $1.50.
Walmart’s top line is expected to increase year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $159.1 billion, which indicates a rise of 4.1% from the figure reported in the prior-year quarter. WMT has a trailing four-quarter earnings surprise of 11.6%, on average.
Performance Food Group (PFGC - Free Report) currently has an Earnings ESP of +3.13% and a Zacks Rank of 3.
PFGC is expected to register a bottom-line increase when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for earnings is pinned at $1.11 per share, indicating a rise of 2.8% from the year-ago quarter’s number.
The company’s revenues are anticipated to increase year over year. The consensus mark for the same is $15 billion, indicating a jump of 1.9% from the figure reported in the year-ago quarter. PFGC has a trailing four-quarter average earnings surprise of 15.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.