Weber Inc (NYSE:WEBR) shares are trading lower Monday after the company reported worse-than-expected top-line results and issued guidance below analyst estimates.
Weber said fiscal second-quarter revenue decreased 7% year-over-year to $607 million, which came in below the $659.06-million estimate, according to data from Benzinga Pro. The company reported a quarterly adjusted loss of 64 cents per share, which may not compare to estimates for earnings of 18 cents per share.
"Weber has operated through many environments over the last 70 years and remains well-positioned to navigate near-term market challenges to drive long-term growth and value creation for shareholders," said Chris Scherzinger, CEO of Weber.
Weber said it expects full-year 2022 revenue to be between $1.65 billion and $1.8 billion versus the $2.09-billion estimate. Full-year adjusted EBITDA is expected to be between $140 million and $180 million.
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WEBR 52-Week Range: $6.52 - $20.44
The stock was down 6.16% at $6.70 at press time.
Photo: Mike McCune from Flickr.
