- 1847 Goedeker Inc (NYSE:GOED) reported fourth-quarter FY21 sales of $142.7 million, missing the consensus of $145 million. It reported $16.7 million in net sales and $107.9 million in pro forma net sales during 4Q20.
- Gross profit for the quarter was $32.6 million versus $0.9 million in the year-ago period. Gross margin for the quarter leaped to 23%.
- Adjusted EBITDA for the quarter was $11.3 million, with an 8% margin.
- EPS of $0.03 missed the consensus of $0.05.
- Outlook: For FY22, Goedeker expects high teens to low 20s sales growth with gross margins and adjusted EBITDA margins relatively flat to 2021 actual results.
- Goedeker expects supply chain disruptions, significant inflation, and geopolitical uncertainty to impact the company and its customer base in the coming quarters.
- Price Action: GOED shares are trading lower by 0.29% at $1.75 on the last check Thursday.
