Arhaus rises on Q2 results beat

Arhaus

09/08/2023 13:58

** Shares of home furnishing retailer Arhaus  ARHS.O  up
5.6% at $12.25 in premarket trade 
    ** Posts Q2 revenue of $313 million, beating Street's
estimate of $306.57 mln - Refinitiv  
    ** Also, on an adjusted basis, earned profit of $0.29/share
vs expectations of $0.26/share in Q2 
    ** For full-year 2023 "increasing our net income and
adjusted EBITDA outlook" - CEO John Reed 
    ** Lowers higher-end of full-year revenue guidance to $1.30
bln-1.29 bln; sees 2023 revenue between $1.25 bln and $1.29 bln 
    ** Ten of 11 brokerages rate the stock "buy" or higher, 1
"hold"; their median PT is $12.00
    ** As of last close, stock up 18.97% YTD 

 (Reporting By Akshita Toshniwal in Bengaluru)
 ((Akshita.Toshniwal@thomsonreuters.com))