Home result: HEMS stock drops 4% after Q1 Miss

<p>At Home (NYSE: HOME) has the revenue for the interior design company’s fiscal policy first quarter 2021 HEMA shares on the move after Thursday Thursday. It comes after reporting adjusted earnings per share of 61 cents, which is worse than the Wall Street estimate for a loss of 42 cents. Its revenue of $ 189.85 million is also below analysts’ estimates of $ 194.15 million.

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Here’s what’s worth noting from the latest At Home earnings report.

Adjusted losses per share decrease significantly from adjusted earnings per share of 3 cents during the same period last year. Revenue for the quarter was 38% lower than the $ 306.26 million reported in the first quarter of 2020. Operating profit of $ 372.06 million is worse than the previous year compared to an operating profit of $ 25.89 million. The At Home earnings report also includes a net loss of $ 358.94 million. It does not look good when the net result from the same period the year before was $ 13.88 million.

Lee Bird, chairman and CEO of At Home, said this about the earnings report.

“Since the beginning of May, when local and state mandates were taken up, we began to reopen a majority of our stores. The early results are strong in all markets with initial sales in reopened stores with solid double-digit figures during their quarterly reopening period. As a low-cost leader in our category with a focus on expanding our omnichannel presence, I am convinced that At Home is well positioned for both the short and long term to take an additional share of the large and fragmented home furnishing market.

That Home offers no prospects in its earnings report. It cites the new coronavirus as the reason for this decision. Many other companies maintain guidance during the pandemic.

The HEM share fell close to 3.8% after the markets closed on Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/06/at-home-earnings-drop-home-stock/.

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