Jessica Alba's Honest Co hits record low on bigger-than-expected Q4 loss

Honest

16/03/2023 14:23

** Shares of eco-friendly baby, beauty and household
products maker Honest Co  HNST.O  fall as much as 21.14%,
hitting record low of $2.20
    ** Stock last down ~20%; set to record worst day in almost a
year, if losses hold
    ** Co, founded by actress Jessica Alba, reports
wider-than-expected Q4 loss as higher prices failed to protect
margins on surging costs of the products 
    ** Posts Q4 loss of 14 cents per share, compared with
analysts' estimate of a loss of 5 cents per share - Refinitiv 
    ** Revenue rises 1.8% YoY to $81.9 mln, beating analysts'
estimates of $80.4 mln, benefiting from steady demand and higher
prices
    ** Stock had fallen 58.7% in the past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))