Investor Alert

New York Markets Open in:

Market Pulse Archives

May 16, 2022, 7:58 a.m. EDT

Weber shares slide 12% premarket after earnings fall short of estimates

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane


Shares of grill maker Weber Inc. slid 12% premarket Monday, after the company posted a wider-than-expected loss for its fiscal second-quarter, sales fell short of estimates and it lowered guidance, hurt by supply-chain issues and rising costs. The Palatine, Illinois-based company posted a net loss of $54.5 million, or $1.02 a share, for the quarter to March 31, after income of $68.9 million in the year-earlier period. Sales fell to $607.3 million from $654.4 million a year ago. The FactSet consensus was for EPS of 18 cents and sales of $659 million. "Our second-quarter results reflect our proactive responses to supply chain and material cost inflation, which helped drive higher sequential gross margin and adjusted EBITDA margin versus the prior quarter," Chief Executive Chris Scherzinger said in a statement. The company revised its guidance for the full year to reflect the expected impact of reduced retail sellout related to traffic and consumer buying trends as well as the impact of currencies. It now expects sales to range from $1.65 billion to $1.80 billion, below the FactSet consensus of $2.1 billion. Shares have fallen 45% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.94% has fallen 15.6%.

-41.75 -0.94%
Volume: 0.00
Sept. 20, 2023 5:27p

Get news alerts on S&P 500 Index — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.