Sonos (SONO) reported earnings on Wed 5 Aug 20 (a/h)

• #15

** charts after earnings **

 

The maker of smart speakers announced Wednesday that it generated revenue of $249.3 million for its fiscal third quarter, down from $260.1 million a year earlier but ahead of the $235.8 million that analysts surveyed by FactSet had been expecting. While overall sales fell 4%, Sonos SONO, -18.34% saw a nearly 300% boost in its direct-to-consumer channels as more customers opted to order smart speakers online.

Chief Executive Patrick Spence told MarketWatch that the company doesn’t estimate that it saw much benefit from stimulus payments given its premium customer base. Instead, he thinks the company was able to capitalize on the broader interest in home improvements now that people are spending more time around the house during the COVID-19 shutdowns.

“Our audience was probably less impacted by the layoffs…and in the fortunate position to still have a job and be able to divert spend that might have gone toward travel or eating out to making improvements at home,” he said.

Watch: How an agnostic ‘voice platform’ could talk to all your home devices

The company saw a widening loss in the fiscal third quarter of $57 million, or 52 cents a share, compared with $14 million, or 13 cents a share, in the year-earlier period. Analysts surveyed by FactSet had been modeling a 26-cent loss per share.

Sonos introduced three new products during the quarter following some internal debate about whether to conduct a product launch in the midst of a pandemic. Spence said the company went ahead with a ramp that it “thought was aggressive” but still exited the quarter with a big backlog on seven new and existing products due to greater-than-anticipated demand.

The company “will be in a better inventory position in the [September] quarter,” per its investor letter.

Sonos reinstated financial forecasts after pulling its outlook in its last report. The company expects $1.277 billion to $1.292 billion in revenue for the fiscal year ending in September, which translates to $290 million to $305 million in revenue for the current quarter.

Spence said that new products like the $799 Arc sound bar helped the company grow its base of households as the device catered to a premium audience of people looking to get better audio for their television viewing. At the same time, he said that the company’s partnership with Ikea typically helps bring new customers into the Sonos ecosystem but that it was less impactful in the June quarter given temporary closures of Ikea locations.

Earnings this week : August 3 - 7, 20 (wk 32)

Monday (Aug 3)

• Morning: CLX CMS CNA EME GPN LGND CLI MPC MCK MCY MPLX NNN NBL TKR TSN
• Afternoon: AIG BRKR BWXT CWST CHGG CRUS FANG DLB PLOW EMN FIVN FBM FRPT HHC H ICHR IR INVH ITRI KMPR KMT KLACRMBS RRC O RBC REG RNG SBAC SEDG STE SYKE TTWO THC TXRH TREX VVV VNOM SPCE WMB

Tuesday (Aug 4)

• Morning: ACM ATI AMRN AMCX AME ARMKBMCH BP CNK CYBR DEA EPC ESI EMR AQUA EXC EXPD FIS FI IT THRM HEES HAE HLNE HSIC IAA INCY INGR IPHI XENT IGT IPGP JELD KKR LCII LEA LDOS TREE LGIH MNK PRIM RCM RL RHP SPNS BLD TDG USCR USFD VSH VMC WEC WBT WRK ZBH
• Afternoon: ACHC ATVI ALSN ALL ANET BYND BMRN BOOT CDLX CDNA CDK CNO COHR CMP CORT DK DVN ENTA ENPH ETH EVER EVTC EXR FOE FNF FMC FOXA GTES GLUU LOPE GDOT PEAK ICFI IOSP INGN INSP NVTA JAZZ KTOS LC LPSN LMNX MTCH MODN MNST NKLA NPTN NEWR NUVA ONTO OMI ORCC PAYC PAA PLNT PPD PUMP PRU RGA TSLX TRHC TRUP TWLO UPWK VRSK DIS WU WW WYNN

Wednesday (Aug 5)

• Morning: AEIS GOLF ALE ABC ARES ASTE ATH AVA BCOR BWA BV CPRI CDW FUN CRL CLH CVS DISCA ERJ ENBL ENR EVRG EVOP EXTR FVRR GCP GEL ROCK HSC HEP HMC HZNP HUM INMD IONS KAR LL MTG MIDD MRNA NYT NXST NLSN NI DNOW ODP PSN PRGO REGN REYN SRE SBGI SR STWD STOR SSYS TCP TEVA TRI VCEL VST WD W WEN WWW
• Afternoon: ACAD DDD ADT ADTN ATSG ALRM ALB DOX UHAL AEL AWK ANSS ARNA ATO BTG BLDP BNFT BFAM CCMP CWH CVNA CTL CDAY CF CHX CHNG XEC COLL CPA CXW CTVA CCRN CSGS CUB DAR DCP ELF ECPG ENDP ET PLUS EPR WTRG ETSY RE FSLY FATE FRT FISV FOXF FNV FTDR GBT GMED GDDY HR HI TWNK HUBS IAG IMMU INFN INSG JACK KBR KRO LHCG LNC LYV MFC MRO MATX MBI MET MWA NTRA NVRO LASR MNIH NUS NUAN OLN OHI OSUR OR OUT PAAS PK PE PDCE PVG PRI PGNY PTCT PSA QTWO KWR RYN RCII RMD ROKU RGLD SGMO SRPT SILK SONO SJI SQ STAA SUN SPWR SYNA TTGT TRMB TWO VAR VSLR VOYA HCC WELL WDC ZIXI ZGNX ZNGA

Thursday (Aug 6)

• Morning: AAON ABMD ACIW ADNT WMS AES ALNY AEP AMRX AAWW BLL BHC BDX BMY CNQ CAH ECOM LNG CHH CWEN CCOI CFX COMM CORE CRON XRAY EPAM EXLS FLI GTN HL HLT HIMX IBP NTLA IDCC IRM IRWD JLL KELYA KTB LAMR LAUR LXP MMS MYL EYE NICE NOMD NCLH OGE PCRX PZZA PH PENN DOC PNW PLUG PBH PWR QSR STNG SEE SERV SRCL SYNH TRGP TEN MEET SHYF THS USPH VGR VER VIAC VSTO VG WLK WIX YETI ZTS
• Afternoon: AL XLRN LNT ALTR AYX AMH COLD AMN AINV APPN AGO AVT AAXN AXNX BECN BL BKNG EPAY BHF CABO CBT CZR CATM CARG CHUY NET ED CNDT CUBE CWK DDOG DRH DBX DXC EDIT ENV EOG EB EVBG EXEL FGEN FSLR FLO FTNT GPRO GRPN GH GWPH HTA HLF ILMN PODD IRTC LSI LFG.A LTHM LVGO MAIN MTW MMI MHK MSI NFG NSA NKTR NNI NWSA NDLS NLOK OTEX PCT PLYA POST PRAA PRAH PBYI RPD ROLL RMAX RGNX RSG RBA STMP SLF SVMK SWCH TMUS TLND TDC REAL TTD TPIC TRIP TRUE TWST UBER OLED UPLD ECOL VSAT WCM WWD YELP ZG ZIOP

Friday (Aug 7)

• Morning: CSIQ CNNE ROAD HMSY TILE KIM MGA NJR NWN SABR VTR VIRT

Earnings spotlight: 

• McKesson (NYSE:MCK), Marathon Petroleum (NYSE:MPC), Tyson Food (NYSE:TSN), AIG(NYSE:AIG), Tenet Healthcare (NYSE:THC) and Dish Network (NASDAQ:DISH) on August 3; 
• BP (NYSE:BP), US Foods (NYSE:USFD), Exelon (NASDAQ:EXC), Prudential (NYSE:PRU), Disney (NYSE:DIS), Allstate (NYSE:ALL), Ralph Lauren (NYSE:RL) and Fox Corporation (NASDAQ:FOXA) on August 4; 
• Honda (NYSE:HMC), CVS Health (NYSE:CVS), Humana (NYSE:HUM), Wayfair (NYSE:W), Wendy's (NASDAQ:WEN), MetLife (NYSE:MET) and Western Digital (NASDAQ:WDC) on August 5; 
• Cardinal Health (NYSE:CAH), Bristol-Myers (NYSE:BMY), ViacomCBS (NASDAQ:VIAC), Mylan (NASDAQ:MYL), Yeti (NYSE:YETI), T-Mobile (NASDAQ:TMUS), Con Edison (NYSE:ED) and Uber (NYSE:UBER) on August 6; 
• Magna International (NYSE:MGA), Domtar (NYSE:UFS) and Canadian Solar (NASDAQ:CSIQ) on August 7.

Sonos (SONO) reported earnings on Wed 5 Feb 20 (a/h)

** charts before earnings **

 

** charts after earnings **

Sonos beats by $0.02, beats on revs; reaffirms FY20 guidance

Reports Q1 (Dec) earnings of $0.60 per share, $0.02 better than the S&P Capital IQ Consensus of $0.58; revenues rose 13.2% year/year to $562 mln vs the $545.49 mln S&P Capital IQ Consensus, driven by growth in all product categories. During the holiday selling period, our planned promotions outperformed our expectations, which we believe resulted in a pull forward of revenue from the second quarter.sold 2,939,867 products, representing 22% growth year-over-year. 

Q1 FY2020 gross margin of 40.5% was 120 basis points higher than Q1 FY2019 driven by volume and mix shifts into higher margin products as well as product and material cost reductions. Excluding the effect of tariffs, gross margin would have increased 464 basis points to 44.0%.

Co reaffirms guidance for FY20, sees FY20 revs of $1.365-1.40 bln vs. $1.38 bln S&P Capital IQ Consensus; EBITDA $72-82 mln, $102-112 mln ex-tariffs. "Our planned supply chain diversification efforts are on track -- we have started limited manufacturing in Malaysia and continue to expect to be fully operational by the end of the year and therefore expect to offset the impact of future tariffs throughout the year. Our fiscal 2020 gross margin and adjusted EBITDA outlook takes into account an ~$30 million one-time negative impact as a result of the 15% tariff imposed on goods manufactured in China in effect through February 13, 2020 and 7.5% tariff from that date going forward."

Earnings this week : Feb 3 - 7, 20 (wk 6)

Monday (Feb 3)

• Morning: ACM AMG ABG CTLT CHKP NSSC ON SASIA SYY
• Afternoon: ARE GOOG AFG BECN CBT EZPW FN HLIT HIG HP HXL HLI KMT KRC LEG MTSC NXPI PAHC PCH RBC SSD SXI VVV WWD

Tuesday (Feb 4)

• Morning: ATI AXE ARMK ATKR BDC TECH BP CNC CLX CMCO COP CSWI CTS CMI EXP ETN EMR ENTG AQUA IT HAE HLNE HUBB JHG LHX LANC LII LITE MCK MTG MSGN PBI PINC RL ROLL RCL SPG SIRI SNE TDG VSH GRA WDR WAT ZBH

Mon pm & Tue am (by vol) : https://finviz.com/screener.ashx?v=211&t=ARE,GOOG,AFG,BECN,CBT,EZPW,FN,HLIT,HIG,HP,HXL,HLI,KMT,KRC,LEG,MTSC,NXPI,PAHC,PCH,RBC,SSD,SXI,VVV,WWD,ATI,AXE,ARMK,ATKR,BDC,TECH,BP,CNC,CLX,CMCO,COP,CSWI,CTS,CMI,EXP,ETN,EMR,ENTG,AQUA,IT,HAE,HLNE,HUBB,JHG,LHX,LANC,LII,LITE,MCK,MTG,MSGN,PBI,PINC,RL,ROLL,RCL,SPG,SIRI,SNE,TDG,VSH,GRA,WDR,WAT,ZBH&ta=0&o=-volume

• Afternoon: EGHT ATGE AFL ALL DOX AINV APAM ATO BOOT CDK CERN CMG CB TCS CCK ESE ETH FISV F GTES GNW GILD GL THG HIW IPHI JKHY KLAC KN MANH MTCH MDU MCHP MODN MWA NBIX NEWR OI OLN PCTY CNXN PDM PAA PAGP PLT PWL PRU QGEN RRR RNR SCSC STX SNAP SWI TENB UNM USNA VIAV DIS YRCW ZAYO

Wednesday (Feb 5)

• Morning: ABB AME BMI BSX CPRI CG COTY DTE ENR FSV GM GPI HUM KFRC MHO MCFT MRK NS NVT BTU PAG PFGC SR SPOT SUM TMHC TKR UMC WD
• Afternoon: ADTN AOSL UHAL ANGI AVB ACLS CCMP CENT CDAY CINF CTSH COHR CUZ CSGS CUB DHT ECHO ELF ENS FEYE FLO FMC FORM FOXA GLUU GPRO GRUB HI ICHR IAC IRBT LCI LNC RAMP MTRX MXL MET MC MPWR NTGR NUAN ORLY OHI PAYC PTON QCOM  QNST RDN RYN RGLD SONO SAVE SU TBI TTMI TWLO TWO UGI WERN YUMC ZNGA

Thursday (Feb 6)

• Morning: ABMD WMS AGCO ALNY MT ARCH ARW BLL BCE BDX BGCP BV BCO BMY CAH CDW CI COR DNKN EIGI EL FCAU GLOP GLT HL  EAF HAIN ICE K KEM MAC MMS MPW MDP NRX NYT NGL NJR NOK ODFL PTEN PENN PM PBH PRLB REGN SPGI SNY SNA TPR TGI TWTR TSN USX VSTO WLTW WWE XYL YUM
• Afternoon: TWOU ATVI ASYS BIDU BHE BILL BKH BRKS CSL CCS COLM OFC DLX DXC EGP EGAN ENTA EHC EXPO FLT FSCT FTNT FTV FWRD G HUBG IQ LMAT LGND LFG.A MTW MTD MOBL MSI MYGN NOV NTUS UEPS NWSA NLOK OMCL ONTO PMT PINS POST PRO SGEN SIMO SKX SYNA TTWO TDC TSE UBER VRSN VVI VSAT VRTU VCRA WYNN ZEN

Friday (Feb 7) 

• Morning: ABBV AVTR CAE CCJ CBOE CNHI GOOS ROAD UFS FE GRC HMC

=Sonos (SONO) reported earnings on Thur 9 May 2019 (a/h)

Sonos beats by $0.13, misses on revs; reaffirms FY19 guidance

• Reports Q2 (Mar) loss of $0.22 per share, $0.13 better than the S&P Capital IQ Consensus of ($0.35); revenues rose 12.6% year/year to $210.2 mln vs the $213.42 mln S&P Capital IQ Consensus. In Q2 FY2019, the largest drivers impacting our year-over-year revenue growth were the Sonos Beam, Sub and Amp. Beam's continued strength contributed to a 57% increase in home theater speaker products sold and a 29% increase in home theater speakers revenue. The Sonos Amp, which became generally available in Q2 FY2019 after a limited supply introduction in Q1, reinvigorated the components category, driving 19% unit growth and 33% revenue growth in the quarter. gross margin of 43.0% exceeded quarterly expectations. Despite a significant mix shift to recently launched products such as Beam, AMP and Sonos One, gross margin was only 60 basis points lower on a year-over-year basis due to supply chain efficiency and progress in mitigating component pricing pressure
• Co reaffirms guidance for FY19, sees FY19 revs of $1.25-1.275 bln vs. $1.25 bln S&P Capital IQ Consensus; EBITDA $83-88 mln.

Earnings this week : May 6 - 10, 19 (wk 19)

 

Monday (May 6)

• Premarket: AMG, BHC, CAMT, CEVA, DK, DSKE, KOS, NSSC, PETS, SPNS, SYY, TSN    

• After-Hours: AEIS, AIG, AIZ, ANDE, APU, AVID, AWR, BE, BHF, BKD, CBT, CDEV, CENT, COHU, CPE, DCO, DCP, EGOV, ENSG, EVBG, EVER, FBM, FMC, FN, FRAC, FRGI, FRPT, FRTA, GLPI, GLUU, HBM, HHC, HIIQ, HPR, HTZ, IAG, IFF, INVH, IPAR, ITRI, IVC, KLAC, KMT, KRC, KRG, LCI, LMNX, MASI, MOS, MTSC, MWA, NCMI, NGHC, NLS, OFIX, ORA, OTTR, OXY, PAHC, PLOW, PXD, QGEN, RARE, RBC, RCII, RE, RNG, RP, RTEC, SEDG, SHO, SKT, SNHY, STRL, SYKE, TACO, TCMD, TXMD, UGI, VECO, XENT

Tuesday (May 7)

• Premarket: ADNT, AES, AGN, AKRX, AMAG, ARMK, ARRY, ATH, ATKR, AVNS, BCC, BGCP, BLD, BR, BUD, CJ, CLVS, CNHI, CNK, CRL, CROX, CTLT, CWEN, DEA, DF, DNR, DPLO, DXPE, EGRX, EMR, ENR, EXPD, FI, GSKY, GTE, GTX, HAE, HSIC, ICL, IMOS, IPI, JEC, JELD, JLL, KEYW, KL, LCII, LGIH, LITE, LPX, MDCA, MFA, MLCO, MNK, MYL, NHI, NOVT, NWN, OCN, OMI, PINC, PNM, PRIM, REGN, RHP, SEAS, SERV, SND, SRE, TA, TDG, USAC, USFD, VAC, VCEL, VGR, VPG, WBT, WOW

• After hours: ACLS, ADT, APEI, ATO, ATSG, AVD, AVLR, BECN, BOLD, CERS, CGBD, CHUY, COLD, CRAY, CRZO, CSOD, CTRE, CWK, DDD, DIOD, DVA, EA, EDIT, ENTA, ESE, EVH, EVRI, FANG, FARM, FATE, FG, FLT, FTSI, GHDX, GTES, HALO, HCKT, HCLP, HUBS, ICHR, IMMR, INGN, INSP, IOSP, IRTC, JAZZ, JCOM, KAR, KGC, LADR, LC, LOPE, LTHM, LYFT, MMI, MODN, MTCH, MTSI, MYGN, NCR, NVTA, OAS, OHI, OPK, OSPN, PAA, PAGP, PBPB, PEGA, PEN, PLT, PLYA, POWL, PRI, PRMW, PUMP, PZZA, QRVO, QTWO, QUOT, RGR, RNR, RTRX, S, SEMG, SGMS, SUPN, SWX, TRIP, TWO, TWOU, VOYA, VREX, WING, WMC, WMGI, WTTR, WU, Y, ZAGG

Wednesday (May 8)

• Premarket: ACM, ANDX, ATHM, ATRO, BCOR, BG, BV, CBB, CBRE, CEIX, CFX, CHK, CHSP, CORE, COTY, FOLD, FTDR, FUN, GCP, GOLD, GOLF, GTN, GTT, HMC, HZNP, ICPT, LXP, MCHP, MCK, MIDD, MPC, MPLX, MRNA, MSG, MYE, NCS, NXST, NYT, ODP, PFGC, PLUG, PTLA, RDUS, SBGI, SGRY, SPB, STWD, SUM, TAST, TGI, TRI, VER, VG, WAAS, WEN, YRCW
• After hours: AAOI, AGS, AIMT, AKCA, ALB, ANGI, APLE, APYX, ARNA, ASRT, AXGN, BIO, BREW, CCMP, CECO, CNDT, COLL, CPA, CTL, CVNA, CW, CWH, CXW, DAR, DIS, DRH, DVAX, ECPG, EGAN, ELF, ENV, ETSY, EVRG, EZPW, FLNT, FNV, FOSL, FOXA, FTK, GBDC, GDOT, GKOS, GPRE, HLI, IAC, IMMU, INFN, INSG, IVR, KIDS, KINS, KRO, KTOS, LASR, LHCG, MATX, MBI, MRAM, MTRX, NKTR, NNI, NUAN, NVEE, OSUR, PAAS, PETQ, PK, PRGO, PRSC, PSDO, PSEC, QDEL, RDFN, RLJ, ROKU, RUN, RWT, RXN, RYAM, SAIL, SCOR, SGMO, SIEN, SJI, SLF, SMI, SRPT, STMP, SUN, SVMK, SWAV, SWCH, TCX, TLND, TPC, TPIC, TRHC, TTGT, TVTY, TWNK, UPWK, VERI, WIFI, WPM, WTRH, XEC, ZGNX

Thursday (May 9)

• Premarket: ACIW, AEE, AMC, AMRX, ANIP, BAM, BDX, BPMC, BPMP, CAH, CHH, CNNE, CNP, CNQ, COMM, CPG, CRCM, CVIA, DESP, DSX, DUK, EBIX, ECOM, ELAN, ENDP, EPAM, EPC, EYE, FOCS, GOGO, GTS, HAIN, HIMX, HL, HMHC, HSC, INAP, INXN, IONS, KDP, LAUR, LNG, MBUU, MCFT, MGA, MMS, NCLH, NMRK, NOMD, NS, OMER, OSTK, OXFD, PBH, PQG, PRTY, RCM, RDNT, REZI, RGEN, SNH, SQNS, SUP, SYNH, TEN, TGNA, TLRA, TPR, TTD, TTI, TU, TW, UNVR, USCR, VNTR, VRTV, VSH, VSTO, WRLD, WWW

• After hours: AAXN, AGO, AIRG, AL, ALRM, ALTR, AMBC, AMBR, AQ, AQN, ASYS, BKNG, CABO, CARG, CDLX, CISN, CTRL, CUTR, DBX, DHT, EFX, ELY, EQH, FLY, FSCT, GH, GPRO, GSBD, ICUI, JAG, MAIN, MAXR, MESA, MTD, MTW, NDLS, NNBR, NTR, NTRA, NVRO, NWSA, PBYI, PRAA, QNST, QRTEA, RBA, ROAD, SCSC, SENS, SNCR, SONO, SPPI, SPWR, SSRM, SSTI, SWIR, SYMC, SYNA, TGH, TIVO, TROX, TRUE, TRXC, UEPS, UNIT, VFF, VSLR, WPRT, XLRN, XON, YELP, ZAYO, ZG, ZVO

Friday (May 10)

• Premarket: AQUA, BPL, CLNY, ENB, ERF, HPT, JD, MAR, PEGI, PTE, SSP, TRCO, VIAB
• After hours: CBPO

Notable earnings reports: Tyson Foods (NYSE:TSN), Hertz Global (NYSE:HTZ) and Bausch Health (NYSE:BHC) on May 6; Electronic Arts (NASDAQ:EA), Lyft (NASDAQ:LYFT), Anheuser-Busch InBev (NYSE:BUD) and Wynn Resorts (NASDAQ:WYNN) on May 7; Disney (DIS), Roku (NASDAQ:ROKU), Etsy (NASDAQ:ETSY), Fox (NASDAQ:FOXA) and Madison Square Garden (NYSE:MSG) on May 8; GoPro (NASDAQ:GPRO), Booking Holdings (NASDAQ:BKNG), Keurig Dr Pepper (NYSE:KDP) and Trade Desk (NASDAQ:TTD) on May 9; Viacom (NASDAQ:VIAB), JD.com (NASDAQ:JD) and Linde (NYSE:LIN) on May 10.

=Sonos (SONO) reported earnings on Thur 15 Nov 2018 (a/h)

Sonos beats by $0.08, beats on revs; guides Q1 and FY19 EBITDA and revenue above consensus

• Reports Q4 (Sep) loss of $0.02 per share, $0.08 better than the single analyst estimate of ($0.10); revenues rose 27.5% year/year to $272.9 mln vs the $248.66 mln S&P Capital IQ Consensus. Beam exceeded their forecast, capturing the number 1 position by dollar share with 8% of the U.S. soundbar category in the third calendar quarter according to NPD , despite only being launched in mid-July. Beam's success drove home theater speaker products revenue up 63% in fiscal Q4, year-over-year, and contributed significantly to our Q4 revenue outperformance
• Co issues upside guidance for Q1, sees Q1 revs of $485-495 mln vs. $469.41 mln S&P Capital IQ Consensus; EBITDA +1-6% to $66-69 mln vs. $61M estimates.
• Co issues upside guidance for FY19, sees FY19 revs of $1.25-1.275 bln vs. $1.21 bln S&P Capital IQ Consensus; EBITDA +20-27% to $83-88 mln. "Long-term target continues to be 42-44%, a level we've achieved regularly over the past thirteen years. As previously discussed, we anticipate lower gross margins (40-41%) in FY2019 as a result of industry-wide component shortages (primarily multi-layer ceramic capacitors or MLCCs) and our new increased product cadence which shifts the product mix to those products earlier in their life cycle when the gross margin is lower. Due to normal holiday season promotional activities, we expect Q1 gross margin to be lower than the full year range."

Earnings this week : November 12 - 16, 18 (wk 46)

Earnings confirmed to report this week:

Monday (Nov 12) 

• Morning: ACB ACM ATHM
• Afternoon:  APU EB EQH EXPI FOCS HUYA KRNT NVGS TDW UGI VERI YRD YY

Tuesday (Nov 13)

• Morning:   AAP ARMK BZH CAE DQ EPC EYE GDS HD TSN
• Afternoon:  AMRS CDLX CWK HI HOLI MTSI ORIG PETQ REZI SSTI SVMK SWCH TLRY VREX WIX

Wednesday (Nov 14)

• Morning:  APRN BPMP CGC CVIA GOOS LX M MTOR QIWI
• Afternoon: CPA CSCO NTAP NTES PRSP SFS VIPS WPM ZTO

Thursday (Nov 15)

• Morning: BERY BRC CSIQ CUB DDS ENR JCP LXFT MANU SPH SR TK TNK WMT WUBA
• Afternoon: AMAT CRMT DWCH ESE GLOB HTHT JWN MATW  NGVC  NVDA POST SCVL SONO WAIR WSM

Friday (Nov 16)

• Morning: HP FRO  VIAB

Sonos (SONO) reported earnings on Mon 10 Sept 2018 (a/h)

** chart before earnings **

** chart 1 day after earnings **

** chart the following day **

Sonos reports Q3 (Jun) results in-line with preannouncement; guides FY18 in-line 

• Reports Q3 (Jun) GAAP loss of $0.45 per share, likely not not be comparable to the S&P Capital IQ Consensus of ($0.15), net loss $27 mln vs. $27-29 mln guidance; revenues fell 6.6% year/year to $208.4 mln vs the $207.94 mln S&P Capital IQ Consensus, in-line with $206.4-208.4 million preannouncement from the IPO prospectus.
• Despite the 11.4% increase in products sold, revenue declined 6.6% compared to Q3 of FY2017. This dynamic between year-over-year product unit growth and year-over-year revenue decline can be caused by our new product launches and/or product mix. In Q3 FY2018, the largest driver impacting our year-over-year revenue decline was the Q3 FY2017 launch of our PLAYBASE product. PLAYBASE revenue was ~$18 million lower in Q3 FY2018 than Q3 FY2017, the quarter in which PLAYBASE launched. In addition to the product launch dynamics, overall product mix also impacted quarterly comparability. Our Q3 FY2018 product unit growth was driven by a 25% increase in wireless speaker products sold, and primarily by the Sonos One, a product launched in Q1 FY2018 which carries a $199 U.S. MSRP. The decreasing share of the $699 U.S. MSRP PLAYBASE and increasing share of Sonos One further explains the difference between quarterly product unit growth and the decline in revenue, compared to Q3 FY2017."
• Although it's still early in Beam's life, media, retailer and customer feedback are in line with our expectations thus far.
• Co issues in-line guidance for FY18, sees FY18 revs of $1.109-1.114 bln vs. $1.11 bln S&P Capital IQ Consensus; EBITDA $59-62 mln. 
• "Given the nature of our business and the impact of seasonality and new product launches, we measure our financial progress on an annual basis, not a quarterly basis. We are focused on delivering a compound annual revenue growth rate of at least 10% and growing adjusted EBITDA at a compound annual growth rate of at least 20% over the coming years. We may not achieve these targets every fiscal year, but it is our long-term goal to do so."

Earnings this week : September 10 - 14, 18 (wk 37)

Monday (Sept 10)   

• Morning: HOV
• Afternoon: CASY SONO

Tuesday (Sept 11)

• Morning: FRAN 
• Afternoon: FARM

Wednesday (Sept 12)

• Afternoon: OXM PVTL SAIC  TLRD  

Thursday (Sept 13)

• Morning: BRC KR   
• Afternoon:  ADBE CEA AGX PLM RLGT PCYG CSBR GSB

Friday (Sept 14)

• Morning: PLAY  MAMS PTI HGSH ATV CHNR FSBC ZNH