iMedia Brands' Preliminary Q4 Results Exceed Expectations, Reaffirms FY22 Outlook

iMedia Brands Inc IMBI reported select preliminary financial results for Q4 and FY21, along with reaffirming its guidance for FY22.
The company expects Q4 net sales of at least $190 million, representing a ~52% increase year-on-year and above the consensus of $176.6 million.
The company expects a Q4 EPS loss of $(0.23) against the consensus of $(0.25).
For FY21, the company expects net sales to be $547 million (consensus $533.92 million) and EPS loss of $(1.15).
"Q4 was an exceptional quarter for us with the highest revenue growth in a decade," said CEO Tim Peterman.
In addition, iMedia reiterated its FY22 outlook provided on November 17, 2021. It anticipates revenue of $675 million - $725 million (consensus $693.63 million), adjusted EBITDA of $50 million - $60 million, and reporting positive quarterly EPS beginning in the back half of 2022.
iMedia expects to report its Q4 results on March 22, 2022.
Price Action: IMBI shares closed higher by 5.37% at $6.28 on Friday.