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IRBT - death cross
iRobot misses by $0.04, beats on revs; lowers FY21 guidance; announces plans to execute a $100 mln accelerated share repurchase
- Reports Q2 (Jun) earnings of $0.27 per share, excluding non-recurring items, $0.04 worse than the S&P Capital IQ Consensus of $0.31; revenues rose 27.9% year/year to $356.6 mln vs the $352.76 mln S&P Capital IQ Consensus.
- Co issues lowered guidance for FY21, sees EPS of $2.25-3.15 from $3.00-3.25, excluding non-recurring items, vs. $3.12 S&P Capital IQ Consensus; sees FY21 revs of $1.55-1.62 bln from $1.67-1.71 bln vs. $1.69 bln S&P Capital IQ Consensus.
- "With household penetration still low, a growing global connected customer base and many exciting growth initiatives now underway or in the advanced planning stages, we believe that our exit trajectory for the second half of 2022 in combination with continued strategic progress will set the stage for sustaining solid annual top-line expansion that can be converted into improving double-digit operating profit margins, substantial EPS growth, and robust operating cash flow generation. Our upcoming plan to execute a $100 million Accelerated Share Repurchase agreement demonstrates our confidence in our strategic direction and in our ability to capitalize on the exciting opportunities that lie ahead."
