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Bassett Furniture Reports Q2 Loss, Misses Revenue Estimates

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Bassett Furniture (NASDAQ: BSET) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.12. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -58.33%. A quarter ago, it was expected that this furniture seller would post earnings of $0.01 per share when it actually produced a loss of $0.14, delivering a surprise of -1,500%.

Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Bassett, which belongs to the Zacks Furniture industry, posted revenues of $83.41 million for the quarter ended May 2024, missing the Zacks Consensus Estimate by 3.25%. This compares to year-ago revenues of $100.52 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings …

Full story available on Benzinga.com

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