Rent the Runway Inc reports results for the quarter ended in April - Earnings Summary

Rent the Runway

06/06/2024 22:51

* Rent the Runway Inc  RENT.OQ  reported a quarterly
adjusted loss
of $6.03​​ per share for the quarter ended in April, higher than
the same quarter last year, when the company reported EPS of
$-9.20.  The mean expectation of two analysts for the quarter
was for a loss of $7.43 per share. Wall Street expected
results to range from $-8.31 to $-6.56 per share.
    * Revenue rose 1.1% to $75.00 million from a year ago;
analysts
expected $73.73 million. 
    * Rent the Runway Inc's reported EPS for the quarter was a
loss of
$6.03​.
    * The company reported a quarterly loss of $22 million.
    * Rent the Runway Inc shares had risen by 261.9% this
quarter and
gained 137.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 31.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the apparel &
accessories peer group is also "buy"

Wall Street's median 12-month price target for Rent the Runway
Inc is $20.50 
This summary was machine generated from LSEG data June 6 at
09:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Apr. 30 2024      -7.43          -6.03          Beat
 Jan. 31 2024      -6.53          -7.02          Missed
 Oct. 31 2023      -8.55          -9.00          Missed
 Jul. 31 2023      -8.51          -8.00          Beat