Bulletin
Investor Alert

London Markets Close in:

Earnings Results Archives | Email alerts

Nov. 13, 2019, 10:36 a.m. EST · CORRECTED

SmileDirectClub loss widens for quarter as revenue surges

Full-year sales outlook above Wall Street view

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    SmileDirectClub Inc. (SDC)

or Cancel Already have a watchlist? Log In

By Wallace Witkowski, MarketWatch

An earlier version of this report described the fourth-quarter per-share consensus as a profit, and not a loss. It has been corrected.


Bloomberg News/Landov
SmileDirectClub Inc. signage is displayed during the company's IPO at the Nasdaq MarketSite in New York on Sept. 12.

SmileDirectClub Inc. reported a wider loss late Tuesday as revenue soared, but third-quarter results were still better than Wall Street expected from the dental products company.

SmileDirectClub /zigman2/quotes/214109287/composite SDC +0.59%  shares were volatile in the extended session, swinging between gains and loses, and were last down 2% after hours, following a 6.5% decline to close the regular session at $11.08. The stock was down 7.6% in premarket trade Wednesday.

The company reported a third-quarter loss of $88.3 million, or 89 cents a share, compared with a loss of $15 million in the year-ago period.

Revenue rose to $180.2 million from $119.7 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 97 cents on revenue of $165.4 million.

Read: SmileDirectClub stock falls then recovers after scathing report from short seller

SmileDirectClub expects full-year revenue of $750 million to $755 million for the year, while analysts forecast revenue of $746.5 million.

“Q3 was a good quarter. We were able to demonstrate our ability to execute, said SmileDirectClub Chairman and CEO David Katzman in a statement. “Overall, our business is better positioned than ever to capitalize on the massive market opportunity in front of us, and we look forward to demonstrating that in the quarters to come.”

SmileDirectClub shares went public in September at $23 and have struggled since.

/zigman2/quotes/214109287/composite
US : U.S.: Nasdaq
$ 8.47
+0.05 +0.59%
Volume: 1.08M
Dec. 6, 2019 10:55a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$865.64 million
Rev. per Employee
N/A
loading...

Wallace Witkowski is a MarketWatch news editor in San Francisco. Follow him on Twitter @wmwitkowski.

Get news alerts on SmileDirectClub Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.