Overview
Canada eyecare provider's preliminary Q1 revenue grew 23% yr/yr but missed analyst expectations
Adjusted EBITDA for preliminary Q1 exceeded 6% of revenue
Preliminary glasses revenue expanded 61% yr/yr to C$10.8 mln
Outlook
Company did not provide specific guidance for upcoming quarters or the full year in its press release
Result Drivers
GLASSES SEGMENT - Glasses revenue grew 61% yr/yr to C$10.8 mln, contributing to overall revenue growth
MARGIN IMPROVEMENT - Adjusted EBITDA exceeded 6% of revenue, up quarter-over-quarter
Company press release: ID:nCNWT29qda
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
C$57.40 mln
C$59.12 mln (5 Analysts)
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"
Wall Street's median 12-month price target for Kits Eyecare Ltd is C$25.00, about 60.8% above its April 6 closing price of C$15.55
The stock recently traded at 51 times the next 12-month earnings vs. a P/E of 64 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
