IRobot Corp. IRBT, -5.71% shares plunged more than 16% in the extended session Tuesday after it beat earnings and revenue expectations but lowered its holiday quarter guidance, citing U.S. tariffs on robotic vacuum cleaners, among other issues.
What happened to iRobot stock?
iRobot (NASDAQ: IRBT) stock collapsed in a frenzy of selling Thursday morning after the company reported a sizable earnings miss last night -- and hinted at more misses to come. Heading into the fourth quarter of 2021, analysts didn't hold out high hopes for iRobot, predicting the Roomba maker would lose $0.91 per share on sales of $463.8 million.
Why did iRobot's sales sink 16%?
Citing "ongoing semiconductor chip constraints and shipping delays that impacted our ability to fulfill approximately more than $35 million in orders," iRobot was forced to admit that sales sank 16% year over year in Q4, and that the company swung from a Q4 profit a year ago to a Q4 loss this time around.
What happened to iRobot in Q4 2021?
Heading into the fourth quarter of 2021, analysts didn't hold out high hopes for iRobot, predicting the Roomba maker would lose $0.91 per share on sales of $463.8 million. Even so, the company managed to trip over that low bar.
How did Roomba make $787 million in 2019?
The Roomba is by far its most important product -- vacuum cleaners were responsible for $715 million of the $787 million revenue in the first nine months of 2019. The remaining $72 million came from mopping products, while its Terra lawn mowers are being readied for a large-scale launch in the spring of 2021.
Why are iRobot shares down?
In iRobot's fourth-quarter report in February, the company disclosed that around $35 million worth of orders went unfulfilled due to semiconductor shortages and shipping delays. Fourth-quarter revenue was down 16%, and the company posted a large net loss as gross margin plunged.
Will iRobot stock recover?
Investors will get a big update on iRobot's rebound potential when management updates its 2022 outlook in a few days. That forecast currently calls for sales and profitability to be weak through the second quarter before rebounding over the next two quarters.
Is iRobot stock a good buy?
In 2021, it generated around $1.6 billion in revenues. IRBT is a Zacks Rank #2 (Buy) stock, with a Value Style Score of B and VGM Score of B. Shares are currently trading at a forward P/E of 22.5X for the current fiscal year compared to the Industrial Automation and Robotics industry's P/E of 22X.
Is iRobot undervalued?
In short, The stock of iRobot (NAS:IRBT, 30-year Financials) is estimated to be modestly undervalued. The company's financial condition is fair and its profitability is strong. Its growth ranks better than 76% of the companies in Hardware industry.
Where is iRobot manufactured?
Most of its robots are currently manufactured in China, except for the iRobot 600 line, the company's simplest robot, which iRobot has manufactured in Malaysia since before the pandemic.
Is Roomba a public company?
iRobot Corporation went public on November 9, 2005.
Is IRNT stock a buy?
IRONNET Stock Forecast FAQ Out of 3 analysts, 0 (0%) are recommending IRNT as a Strong Buy, 0 (0%) are recommending IRNT as a Buy, 3 (100%) are recommending IRNT as a Hold, 0 (0%) are recommending IRNT as a Sell, and 0 (0%) are recommending IRNT as a Strong Sell.
What does iRobot Corporation do?
iRobot, the leading global consumer robot company, designs and builds robots that empower people to do more both inside and outside of the home.
Does iRobot have debt?
Debt Level: IRBT is debt free. Reducing Debt: IRBT has not had any debt for past 5 years.
iRobot crushed on earnings in Q1. Then the stock crashed
I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well.
What happened
Shares of iRobot ( NASDAQ:IRBT) were off 13% through 11:04 a.m. EDT today -- a curious reaction indeed to the astounding earnings beat that the company turned in last night.
So what
First-quarter sales grew 58% year over year, an astounding number given that the first quarter of 2020 was the quarter in which the coronavirus was just taking hold in America.
Now what
Management now forecasts that it will close out 2021 will sales of nearly $1.7 billion, operating profit of at least $69 million (and perhaps as much as $79 million), and GAAP earnings per share ranging from $1.85 to $2.10.
What happened
Shares of iRobot (NASDAQ: IRBT) were down 21.8% as of 3 p.m. EDT Wednesday, after the home-robotics company announced mixed first-quarter 2019 results -- at least relative to Wall Street's expectations.
So what
iRobot management elaborated that revenue growth in the first quarter was in line with their own expectations, helped by stronger-than-expected demand for the high-end i7 and i7+ Roomba models in the U.S., despite recent price increases to help offset the impact of tariffs.
Now what
Sure enough, this time iRobot chairman and CEO Colin Angle added: "Strong global demand for these products, coupled with the launch of two new products in the second quarter, are expected to drive Q2 revenue growth in the high teens year-over-year."
What happened
iRobot (NASDAQ: IRBT) stock collapsed in a frenzy of selling Thursday morning after the company reported a sizable earnings miss last night -- and hinted at more misses to come.
So what
iRobot management tried to put a brave face on the results, highlighting "44% growth in connected customers during 2021." Investors were having none of that, though, and I can't say I blame them.
Now what
Not all the news was bad, though. iRobot still ended 2021 with sales up 9% at $1.6 billion, and held onto a full-year profit as well -- $1.08 per share, GAAP. (Albeit, that was down 79% from 2020.) The company also predicted that, in 2022, revenue will revive to about $1.8 billion -- at least a 12% bounce back from 2021's decline.
What happened
Shares of iRobot (NASDAQ: IRBT) declined 12% in April, according to data from S&P Global Market Intelligence, after the home robotics leader announced mixed first-quarter 2019 results relative to Wall Street's expectations.
So what
Even so, during the subsequent conference call, management insisted that its first-quarter revenue was in line with the company's internal expectations. Chairman and CEO Colin Angle added sell-through was "good, setting us up for the higher year-over-year Q2 2019 revenue growth rate we discussed last quarter."
Now what
In yet another indication the company is exactly where it wants to be, iRobot reaffirmed both its 2019 outlook for revenue of $1.29 billion to $1.31 billion, up 17% to 20% from 2018, and its guidance for operating income ranging from $108 million to $118 million.
