- 1847 Goedeker Inc GOED reported first-year FY22 sales growth of 23.5% to $152.80 million, beating the consensus of $152.35 million.
- Gross profit for the quarter was $35.9 million, with a gross margin of 23.5%.
- Adjusted EBITDA for the quarter was $13.5 million, with a 9% margin.
- EPS of $0.06 beat the consensus of $0.04.
- The company held $25.8 million in cash and equivalents as of March 31, 2022.
- Outlook: For FY22, Goedeker reaffirmed FY22 guidance. GOED expects high teens to low 20s sales growth with gross margins and adjusted EBITDA margins relatively flat to 2021 combined proforma results.
- The company plans to refine the outlook over the course of the year if macroeconomic headwinds ease.
- Price Action: GOED shares are trading higher by 6.71% at $1.75 in premarket on the last check Monday.
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