1847 Goedeker Q1 Earnings Top Estimates

by Shivani Kumaresan, Benzinga Staff Writer

May 16, 2022 8:38 AM | 1 min read |

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.