Here's Why SmileDirectClub Shares Are Getting Hammered Today

SmileDirectClub Inc SDC shares are trading lower by 15.81% at $1.27 after the company reported worse-than-expected first-quarter EPS results.

SmileDirectClub reported quarterly losses of 19 cents per share which missed the analyst consensus estimate of a loss of 16 cents. The company reported quarterly sales of $152.00 million which beat the analyst consensus estimate of $134.22 million by 13%. This sales figure represents a 19% decrease over sales of $188.80 million in the same period last year.

SmileDirectClub provided the following key operating metrics and strategic highlights in the company’s earnings release:

• First-quarter unique aligner shipments of 76,254, a 15.3% sequential increase over 66,133 shipments in the fourth quarter of 2021.
• First-quarter average aligner gross sales price of $1,890 compared to $1,899 for the fourth quarter of 2021.
• On April 27, 2022, completed a new $255 million secured debt facility, strengthening the Company's liquidity with greater flexibility to fuel its continued operations and growth plans.

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SmileDirectClub is engaged in the orthodontics business. It is mainly involved in the sale of aligners, impression kits, whitening gel and retainers.

According to data from Benzinga Pro, SmileDirectClub has a 52-week high of $11.02 and a 52-week low of $1.29.