Healthcare apparel company Figs (NYSE:FIGS) will be announcing earnings results this Thursday afternoon. Here’s what to look for.
Figs beat analysts’ revenue expectations last quarter, reporting revenues of $201.9 million, up 33% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. It reported 2.92 million active customers, up 9.4% year on year.
Is Figs a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Figs’s revenue to grow 22.3% year on year, improving from the 4.7% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Figs rarely misses Wall Street’s revenue estimates.
Looking at Figs’s peers in the consumer discretionary - apparel and accessories segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Columbia Sportswear posted flat year-on-year revenue, beating analysts’ expectations by 2.6%, and Levi's reported revenues up 14.1%, topping estimates by 5.6%. Columbia Sportswear traded up 2.3% following the results while Levi's was also up 10.7%.
Read our full analysis of Columbia Sportswear’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary - apparel and accessories segment, with share prices up 6% on average over the last month. Figs is up 7.9% during the same time and is heading into earnings with an average analyst price target of $17.75 (compared to the current share price of $14.46).
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