SLEEP NUMBER Reports Second Quarter FY2023 Earnings Results on June 30, 2023
August 21, 2023
☀️Earnings Overview
SLEEP NUMBER ($NASDAQ:SNBR) reported earnings results for the second quarter of FY2023, ending June 30 2023, with total revenue of USD 458.8 million, a drop of 16.4% compared to the same quarter of the prior year. Net income for the quarter was USD 0.75 million, a decrease of 97.9% from the same quarter in the prior year.
Share Price
On Thursday, June 30th, 2023, SLEEP NUMBER reported its second quarter FY2023 results. The company’s stock opened at $39.0 and closed at $38.5, representing a decrease of 0.6% from its last closing price of 38.7.
In addition, the company provided insights into their capital structure and liquidity, highlighting their strong cash flows and solid balance sheet. Looking ahead to the third quarter of FY2023, SLEEP NUMBER plans to focus on a number of strategic initiatives, as well as continue to evaluate opportunities for growth. With their strong financials and commitment to innovation, the company is optimistic that they will be able to deliver on their goals and capitalize on their potential for further success. 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
At GoodWhale, we have conducted an analysis on SLEEP NUMBER‘s fundamentals, which shows that their Star Chart has an intermediate health score of 5/10 with regard to their cashflows and debt. This rating indicates that SLEEP NUMBER might be able to pay off debt and fund future operations. Based on our analysis, we have classified SLEEP NUMBER as ‘sloth’, a type of company that has achieved revenue or earnings growth slower than the overall economy. As such, investors looking for a slower-growth company would likely find SLEEP NUMBER attractive. Furthermore, SLEEP NUMBER is strong in profitability, but weak in asset, dividend, and growth. This may be something investors should consider when evaluating the potential of this company. 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‘s second quarter of FY2023 saw a decrease in total revenue of 16.4%, resulting in a net income decrease of 97.9% compared to the same quarter in the prior year. This presents a concerning outlook for investors, who should be wary of investing in the company. Furthermore, current investors should assess their positions and consider taking steps to limit any losses they may incur. It is recommended that investors research company fundamentals, such as financials, management, products, competitive environment, etc., to gain an understanding of the company’s position in order to make an informed decision.
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