Sleep Number(US:SNBR) ZACKSยท2024-10-30 22:26Company Performance - Sleep Number reported a quarterly loss of $0.14 per share, better than the Zacks Consensus Estimate of a loss of $0.20, but worse than a loss of $0.10 per share a year ago, representing an earnings surprise of 30% [1] - The company posted revenues of $426.62 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.99% and down from $472.65 million year-over-year [2] - Over the last four quarters, Sleep Number has surpassed consensus EPS estimates four times but has topped consensus revenue estimates only once [2] Stock Outlook - Sleep Number shares have lost about 10% since the beginning of the year, while the S&P 500 has gained 22.3% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimate for the coming quarter at $0.06 on revenues of $429.67 million, and for the current fiscal year at -$0.61 on revenues of $1.75 billion [7] Industry Context - The Furniture industry, to which Sleep Number belongs, is currently in the bottom 29% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Sleep Number's stock performance [5][6]