-=Sleep Number (SNBR) reported earnings on Wed 24 Oct 2018 (a/h)

Sleep Number misses by $0.20, reports revs in-line; reaffirms FY18 EPS guidance

• Reports Q3 (Sep) earnings of $0.52 per share, $0.20 worse than the S&P Capital IQ Consensus of $0.72; revenues rose 3.0% year/year to $414.78 mln vs the $411.12 mln S&P Capital IQ Consensus. Flat comps.
  • One week of deliveries ($24 million) shifted into the fourth quarter due to the timing of accelerated sales order growth; adjusted net sales increased 12%
• Co reaffirms guidance for FY18, sees EPS of $1.85 vs. $1.81 S&P Capital IQ Consensus.
  • he outlook assumes mid-single-digit sales growth for 2018. The company anticipates 2018 capital expenditures to be approximately $50 million.
• Co states, "The timing of robust sales order growth in the quarter shifted deliveries from the third to the fourth quarter. Double-digit sales order growth has continued into October. We are confident in the performance of our business and reiterate our 2018 full-year EPS guidance midpoint of $1.85."