earnings
confidence high
sentiment negative
materiality 0.75
Arhaus Q3 net income down 50% to $10M, cuts FY2024 revenue and EBITDA guidance
Arhaus, Inc.
2024-Q3 EPS reported
$0.34
revenue$924,096,000
- Net revenue $319M (-2% YoY); comparable growth -9.2%; demand comparable -11.3%.
- Net income $10M vs $20M YoY; Adjusted EBITDA $23M vs $34M, margin 7.2% down from 10.3%.
- FY2024 guidance cut: revenue $1.23-1.25B (prev $1.25-1.29B), adj. EBITDA $115-125M (prev $125-145M).
- Q4 outlook weak: revenue $306-326M, comparable growth -22% to -16%.
- Cash $178M, zero debt; 101 showrooms across 29 states; 11th opened in Corte Madera, CA.