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IRobot (IRBT) Surpasses Q3 Earnings Estimates
IRBTiRobot(IRBT) ZACKS·2024-11-06 13:10

Core Viewpoint - iRobot reported quarterly earnings of 0.03pershare,surpassingtheZacksConsensusEstimateofalossof0.03 per share, surpassing the Zacks Consensus Estimate of a loss of 0.05 per share, marking a significant improvement from a loss of 2.82pershareayearago,resultinginanearningssurpriseof1602.82 per share a year ago, resulting in an earnings surprise of 160% [1] Financial Performance - iRobot's revenues for the quarter ended September 2024 were 193.44 million, which fell short of the Zacks Consensus Estimate by 11.20%, compared to revenues of 186.18millioninthesamequarterlastyear[2]−Overthelastfourquarters,thecompanyhasexceededconsensusEPSestimatestwotimesandhasonlytoppedconsensusrevenueestimatesonce[2]StockPerformance−iRobotshareshavedeclinedapproximately73.1186.18 million in the same quarter last year [2] - Over the last four quarters, the company has exceeded consensus EPS estimates two times and has only topped consensus revenue estimates once [2] Stock Performance - iRobot shares have declined approximately 73.1% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is 0.03 on revenues of 246.04million,whileforthecurrentfiscalyear,theestimateis−246.04 million, while for the current fiscal year, the estimate is -3.52 on revenues of $780.24 million [7] - The trend of estimate revisions for iRobot is mixed, and future changes in estimates will be closely monitored following the recent earnings report [6][7] Industry Context - The Industrial Automation and Robotics industry, to which iRobot belongs, is currently ranked in the top 40% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]