Weber Stock Slides After Q1 Results Hit By Supply Chain Challenges, Cost Inflation

Weber Inc WEBR reported a first-quarter FY22 sales decline of 8.3% year-on-year, to $283.14 million, missing the analyst consensus of $310.78 million.
- Sales in the Americas decreased 13% Y/Y, EMEA fell 4%, and APAC was flat.
- The gross profit decreased 53% Y/Y to $64 million, and the margin was at 22.6% versus 43.6% last year.
- The operating loss was $(89.2) million versus an income of $22.9 million last year. Adjusted EBITDA loss for the quarter was $(36.1) million.
- EPS loss was $(0.19). Adjusted net loss was $(46) million versus adjusted net income of $13 million in the prior-year quarter.
- Weber held $46.2 million in cash and equivalents as of December 31, 2021.
- "Like many organizations, our results were affected by acute supply chain challenges and dramatic inflationary headwinds in raw materials, inbound freight, and foreign exchange dynamics," said CEO Chris Scherzinger.
- Weber's cash dividend of $0.04 per share is payable on March 18, 2022, to holders of its Class A Common Stock as of the close of business on March 8, 2022.
- Outlook: Weber sees FY22 net sales growth of 6% - 8%, excluding a 1% - 2% forecasted negative impact from foreign currency translation.
- It sees an adjusted EBITDA of $275 million - $325 million given the unprecedented cost challenges.
- Price Action: WEBR shares are trading lower by 11.4% at $9.25 in premarket on the last check Monday.