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1847 Goedeker's Q4 Earnings Miss Estimates

Author: Shivani Kumaresan | March 31, 2022 10:22am

1847 Goedeker Inc (NYSE:GOED) reported fourth-quarter FY21 sales of $142.7 million, missing the consensus of $145 million. It reported $16.7 million in net sales and $107.9 million in pro forma net sales during 4Q20.
Gross profit for the quarter was $32.6 million versus $0.9 million in the year-ago period. Gross margin for the quarter leaped to 23%.
Adjusted EBITDA for the quarter was $11.3 million, with an 8% margin.
EPS of $0.03 missed the consensus of $0.05.
Outlook: For FY22, Goedeker expects high teens to low 20s sales growth with gross margins and adjusted EBITDA margins relatively flat to 2021 actual results.
Goedeker expects supply chain disruptions, significant inflation, and geopolitical uncertainty to impact the company and its customer base in the coming quarters.
Price Action: GOED shares are trading lower by 0.29% at $1.75 on the last check Thursday.

Posted In: GOED