Sleep number press release2/29/2024 ![]() We have improved nearly 13 million lives as we strive to improve society’s wellbeing through higher quality sleep. Our 360 ® smart beds provide each sleeper with adjustable, personalized comfort for proven quality sleep. Our purpose driven company is comprised of more than 4,300 passionate team members who are dedicated to our mission of improving lives by individualizing sleep experiences. The webcast replay will remain available for approximately 60 days. To access the webcast, please visit the investor relations area of the Sleep Number website at. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. The company also intends to resume share repurchases in the fourth quarter and to operate, over time, with leverage of 2.5x to 3.0x EBITDAR, with seasonal fluctuations expected. The outlook assumes 7% to 8% net sales growth for 2020, including an estimated two percentage points of growth and approximately 25 cents per share from the 53 rd week. ![]() ![]() The company expects to generate full-year 2020 earnings per diluted share of approximately $4.00, which would represent a 48% increase versus full-year 2019 earnings per diluted share of $2.70. Leverage ratio was 1.9x EBITDAR at the end of the third quarter, compared with 2.6x for the same period last year Return on invested capital (ROIC) of 20.8% for the trailing twelve-month period, up 240 bp versus the prior year comparable periodĬash and liquidity available under our credit facility, before letters of credit, was $418 million at the end of the third quarter, up $180 million from the same period last year repaid $75 million, 364-day term loan six months early and removed related LIBOR floor and share repurchase restriction Invested $28 million in year-to-date capital expenditures compared to $47 million for the prior year period Generated $287 million in net cash from operating activities for the first nine months of 2020, up 51% versus last year, with year-to-date operating free cash flows of $259 million, up 81% versus prior year Earnings per diluted share increased 90% to $1.79, compared with $0.94 for the prior year.Operating income increased 78% to $70 million, or 13.1% of net sales, up 490 bp versus the prior year’s third quarter.Gross profit rate increased 70 basis points (bp) to 63.1% of net sales compared with 62.4% for the same period last year.Net sales increased 12% to $531 million, including an 11% comparable sales gain online and phone sales were up 111% versus the prior year and represented 14% of net sales.Driven by our purpose, we are accelerating our strategic initiatives, strengthening our competitive advantages and creating meaningful value for our customers, team, business partners and shareholders.” I am thankful for our team's amazing dedication to our mission, their ingenuity and how they keep each other safe, healthy and happy. We again demonstrated the resilience of our vertical business model through our top and bottom-line performance and a trailing twelve months ROIC of nearly 21%. “For the third consecutive year, since transitioning to our smart beds, our Q3 results reflect double-digit demand growth. "Our exceptional third quarter performance reflects the ongoing relevance of our life-changing 360 ® smart beds as consumers deepen their understanding of the importance of quality sleep to their overall health and wellness,” said Shelly Ibach, President and CEO. Sleep Number Corporation (Nasdaq: SNBR) today reported results for the quarter ended September 26, 2020.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |