Jessica Alba's Honest surges after company swings to Q4 profit

Honest

07/03/2024 11:36

** Shares of eco-friendly baby and personal care products
maker Honest  HNST.O  up ~30% at $4.08 premarket
    ** Co logs surprise profit after markets closed on
Wednesday, owing to growth in digital channel, volume and
benefits from price increases
    ** Co reports Q4 income per share of 1 cent vs. year ago
loss of 14 cents per share; analysts estimated loss of 7 cents
per share 
    ** HNST posts Q4 rev of $90.3 mln, up 10% year-over-year vs.
the average estimates of four LSEG analysts of $84.14 mln
    ** Co's household and wellness segment increased 28%, driven
by strong performance in baby clothing business
    ** Co expects FY24 to benefit from its brand maximization,
margin enhancement and operating discipline initiatives
    ** Sees annual rev growth of low-to-mid single digit
percentage
    ** In 2023, stock rose nearly 10%
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))