iRobot drops on bigger-than-expected loss forecast

iRobot

27/02/2024 11:46

** Roomba vacuum maker iRobot's shares  IRBT.O  fall 4.6% to
$11.57 before the bell
    ** Co forecasts FY24 adjusted loss per share of $3.73-$3.30,
much bigger than analysts estimates of $2.49, as per LSEG data
    ** Expects H1 rev to drop in high-teens to low-20s pct range
yoy, and sees only mid-single-digit pct improvement yoy in H2
    ** iRobot posts in-line Q4 revenue but its adjusted loss of
$1.82/shr is smaller than estimates of a $2.11
    ** Up to last close, stock had fallen 68.6% YTD compared
with a 19.5% decline in 2023

 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com
https://twitter.com/ShristiAchar;))