Why PLBY Group's Stock Is Getting Hammered Today

PLBY Group Inc PLBY shares are trading lower after the company reported worse-than-expected second-quarter EPS.

PLBY Group reported quarterly losses of 24 cents per share which missed the analyst consensus estimate of a loss of 1 cent per share. PLBY Group also reported quarterly sales of $49.90 million which beat the analyst consensus estimate of $46.90 million.

Ben Kohn, Chief Executive Officer of PLBY Group, stated, "We are pleased to report another successful quarter that demonstrates the powerful combination of our growing direct-to-consumer business, an optimized licensing operation and scalable digital offerings."

"On the direct-to-consumer side, we saw great traction on Playboy's website with expanded merchandise offerings and strategic influencer marketing. In addition, the second quarter marked continued strong performance in our licensing business and our entry into blockchain-powered offerings with our first NFT collection," Kohn said.

PLBY Group is a pleasure and leisure company. The group serves consumers in four major categories namely Sexual Wellness, Style & Apparel, Gaming and Lifestyle and Beauty and Grooming.

PLBY Group has a 52-week high of $63.04 and a 52-week low of $9.85.