Arhaus Q2 net revenue $310M, net income $22M; lowers FY 2024 outlook

Arhaus, Inc.

2024-Q2 EPS reported $0.27 revenue$604,963,000

Q2 net revenue $310M vs $313M YoY; comparable growth (7.1)%.
Q2 net income $22M ($0.20 diluted EPS) vs $40M a year ago; adjusted EBITDA $40M (12.9% margin).
Full-year net revenue guidance cut to $1.25-1.29B from $1.33-1.37B; adjusted EBITDA now $125-145M from $185-200M.
Demand comparable growth softened to (3)% in Q2; CEO cites consumer trends as reason for lower second-half outlook.
Opened five new showrooms in Q2; ended quarter with 97 total showrooms across 29 states.

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