iMedia Brands Affirms FY22 Outlook

iMedia Brands Inc IMBI reported preliminary first-quarter FY22 sales of $154 million - $157 million, a 35% - 38% increase year-over-year, in line with the approximate $156 million estimate it provided on March 22, 2022.
It sees Q1 adjusted EBITDA of $8.5 million - $9.5 million, a 10% - 11% growth Y/Y, versus the previously estimated $9 million.
Outlook: iMedia reconfirmed full-year guidance. It expects FY22 sales of $675 million - $725 million, versus the consensus of $691 million.
It sees FY22 adjusted EBITDA of $50 million - $60 million. It anticipates reporting positive quarterly EPS beginning in the back half of the year.
iMedia will report its Q1 financial earnings on May 24, 2022.
Price Action: IMBI shares closed lower by 2.55% at $2.29 on Friday.