Solo Brands Shares Drop Despite Surge In Revenue
Shares of Solo Brands, Inc. (DTC) are falling more than 13% Wednesday morning despite more than 100% revenue growth in the third quarter.
Revenue for the quarter increased 138.3% to $69.4 million. Analysts polled by Thomson Reuters expected the company to report revenue of $68.06 million.
Net income in the third quarter declined to $1.18 million or breakeven per share from $10.27 million or 0.13 per share in the same quarter a year ago.
Excluding one-time items, earnings were $15.82 million.
Looking forward to the full-year, the company sees revenue in the range of $344 million – $352 million. The consensus estimate stands at $323.83 million.
DTC, currently at $15.01, has traded in the range of $14.77- $23.39 in the last one year.
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