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Benzinga
Benzinga
Business
Shivani Kumaresan

iMedia Brands Affirms FY22 Outlook

Nasdaq
  • iMedia Brands Inc (NASDAQ:IMBI) reported preliminary first-quarter FY22 sales of $154 million - $157 million, a 35% - 38% increase year-over-year, in line with the approximate $156 million estimate it provided on March 22, 2022.
  • It sees Q1 adjusted EBITDA of $8.5 million - $9.5 million, a 10% - 11% growth Y/Y, versus the previously estimated $9 million.
  • Outlook: iMedia reconfirmed full-year guidance. It expects FY22 sales of $675 million - $725 million, versus the consensus of $691 million.
  • It sees FY22 adjusted EBITDA of $50 million - $60 million. It anticipates reporting positive quarterly EPS beginning in the back half of the year.
  • iMedia will report its Q1 financial earnings on May 24, 2022.
  • Price Action: IMBI shares closed lower by 2.55% at $2.29 on Friday.
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