What To Expect From Williams-Sonoma’s (WSM) Q3 Earnings
Stock Story
Published Nov 15, 2023 02:33AM ET
Updated Nov 15, 2023 06:01AM ET
What To Expect From Williams-Sonoma’s (WSM) Q3 Earnings
Kitchenware and home goods retailer Williams-Sonoma (NYSE:WSM) will be announcing earnings results tomorrow before market hours. Here's what you need to know.
Last quarter Williams-Sonoma reported revenues of $1.86 billion, down 12.9% year on year, missing analyst expectations by 4.8%. It was a decent quarter for the company. Williams-Sonoma beat analysts' EPS expectations and raised its operating margin projections for the full year. That really stood out as a positive in these results. On the other hand, its revenue missed Wall Street's estimates, driven by underperformance at Pottery Barn and West Elm, and it lowered its full-year sales forecast.
Is Williams-Sonoma buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Williams-Sonoma's revenue to decline 11.5% year on year to $1.94 billion, a deceleration on the 7.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.34 per share.
The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing four downwards revisions over the last thirty days. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Williams-Sonoma's peers in the home furnishing and improvement retail segment, some of them have already reported Q3 earnings results, giving us a hint what we can expect. Arhaus delivered top-line growth of 1.9% year on year, beating analyst estimates by 2.6% and Sleep Number (NASDAQ:SNBR) reported revenue decline of 12.6% year on year, missing analyst estimates by 7.7%. Arhaus traded flat on the results, Sleep Number was down 14.3%.
Read the full analysis of Arhaus's and Sleep Number's results on StockStory.
Investors in the home furnishing and improvement retail segment have had steady hands going into the earnings, with the stocks up on average 1.3% over the last month. Williams-Sonoma is down 3.3% during the same time, and is heading into the earnings with analyst price target of $153.8, compared to share price of $158.
The author has no position in any of the stocks mentioned.
Get The News You Want
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.