Brilliant Earth declines as 2022 sales forecast cut overshadows Q1 beat

Brilliant Earth

13/05/2022 13:07

** Shares in jewelry firm  BRLT.O  fall ~11% to $6
premarket; set to open at lowest since September IPO
    ** BRLT trims its annual sales outlook as consumers put a
pause on making big purchases amid inflation and the war in
Ukraine
    ** Co sees fiscal 2022 net sales between $450 mln and $470
mln, down from the $485 mln - $500 mln range expected
previously urn:newsml:reuters.com:*:nASA03C5K
    ** As Q2 progresses, co is seeing impact from uncertain
geopolitical and macroeconomic environment, reflected in
moderating sales trends - CEO Beth Gerstein
    ** At least three brokerages cut their PTs on BRLT
    ** BRLT, however, reports Q1 adjusted profit of 5 cents per
share on revenue of $100 mln, both topping estimates 
    ** As of last close, stock was down ~63% 

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))