Healthcare apparel company Figs (NYSE: FIGS) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
Figs beat analysts’ revenue expectations last quarter, reporting revenues of $159.9 million, up 28% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. It reported 3.02 million active customers, up 12.2% 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 21.9% year on year, improving from the 5.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will 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 Q2 results, giving us a hint as to what we can expect. Levi's delivered year-on-year revenue growth of 8%, beating analysts’ expectations by 2.9%, and Carter's reported revenues up 5.2%, topping estimates by 1.6%. Levi's traded down 2.2% following the results while Carter's was up 5.6%.
Read our full analysis of Levi’s results here and Carter’s results here.
Investors in the consumer discretionary - apparel and accessories segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Figs is up 10.3% during the same time and is heading into earnings with an average analyst price target of $17.63 (compared to the current share price of $10.90).
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