SLEEP NUMBER Reports Q2 FY2023 Earnings Results for June 30, 2023
August 22, 2023
☀️Earnings Overview
On July 27 2023, SLEEP NUMBER ($NASDAQ:SNBR) released its earnings results for the second quarter of FY2023 ending June 30 2023. Total revenue for the quarter decreased by 16.4% year over year to USD 458.8 million, while net income fell 97.9% to USD 0.75 million.
Price History
The stock opened at $39.0 and ended the day at $38.5, down by 0.6% from the previous closing price of 38.7. Sleep Number CEO, David Callen, commented on the results, stating “We are pleased with our second quarter performance, which was driven by our continued focus on providing a personalized sleep experience to our customers. We remain committed to expanding our presence in the digital retail space while also investing in our product innovation and customer experience.” Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sleep Number. More…
| Total Revenues | Net Income | Net Margin |
| 2.02k | 11.82 | 0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sleep Number. More…
| Operations | Investing | Financing |
| 26.17 | -64.41 | 37.76 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sleep Number. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 965.15 | 1.38k | -18.87 |
Key Ratios Snapshot
Some of the financial key ratios for Sleep Number are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | -23.4% | 2.5% |
| FCF Margin | ROE | ROA |
| -1.8% | -7.5% | 3.3% |
Analysis
As GoodWhale, we conducted an analysis of SLEEP NUMBER‘s fundamentals and based on our Star Chart, SLEEP NUMBER has an intermediate health score of 5/10 with regard to its cashflows and debt. This indicates that the company might be able to pay off debt and fund future operations. We have classified SLEEP NUMBER as ‘sloth’, a type of company that has achieved revenue or earnings growth slower than the overall economy. Investors that may be interested in such company include value investors looking for companies with reliable cashflows at a reasonable price. Upon further examination, we observe that SLEEP NUMBER is strong in profitability but weak in asset, dividend, and growth. This suggests that there is potential for upside if it can develop strategies to become more competitive and improve its operations. More…
Peers
The company has a wide range of products that cater to different needs and preferences. Some of its popular products include the Sleep Number Bed, the SleepIQ Kids Bed, and the FlexTop Mattress. The company also has a wide range of competitors, including iRobot Corp, ARKO Corp, and Tempur Sealy International Inc.
– iRobot Corp ($NASDAQ:IRBT)
iRobot Corporation is an American technology company founded in 1990 that designs and builds consumer robots. The company’s flagship product, the Roomba, is a robotic vacuum cleaner that was first introduced in 2002. iRobot also manufactures the Braava line of floor-washing robots. The company sells its products through major retailers and distributors worldwide, as well as through its own website.
iRobot’s market cap as of 2022 is 1.52B. The company’s return on equity is -8.02%.
iRobot Corporation designs and builds consumer robots. The company’s flagship product, the Roomba, is a robotic vacuum cleaner that was first introduced in 2002. iRobot also manufactures the Braava line of floor-washing robots.
– ARKO Corp ($NASDAQ:ARKO)
MARKO Corp is a publicly traded company with a market capitalization of 1.18 billion as of 2022. The company has a return on equity of 39.36%. MARKO Corp is engaged in the business of providing engineering and construction services. The company’s services include project management, construction management, design-build, and general contracting.
– Tempur Sealy International Inc ($NYSE:TPX)
Tempur Sealy International Inc is a leading manufacturer, marketer and distributor of bedding products. The company operates in three segments: North America, Europe and Asia-Pacific. Tempur Sealy International Inc has a diversified product portfolio that includes mattresses, pillows, bedding and other products. The company’s products are sold through a network of retailers, including department stores, specialty stores, mass merchants and e-commerce retailers. Tempur Sealy International Inc has a market cap of 4.7B as of 2022, a Return on Equity of -358.87%. The company’s North American segment is the largest, accounting for approximately 60% of total sales. The Europe segment is the second largest, accounting for approximately 20% of total sales. The Asia-Pacific segment is the smallest, accounting for approximately 10% of total sales.
Summary
SLEEP NUMBER recently reported its second quarter earnings for the fiscal year 2023, ending June 30, 2023. Revenue decreased by 16.4% year over year, to USD 458.8 million, while net income dropped by 97.9%, to USD 0.75 million. This has caused a significant decline in stock price and an overall negative outlook for investors.
For those interested in investing in SLEEP NUMBER, it is important to understand the risks and potential rewards associated with the stock. Factors such as future revenue growth, competitive landscape, and management’s ability to implement strategic changes will be key indicators of the company’s potential performance.
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