Allbirds (NASDAQ:BIRD) Releases Earnings Results, Beats Estimates By $0.45 EPS

by · The Markets Daily

Allbirds (NASDAQ:BIRD – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($2.68) earnings per share for the quarter, topping the consensus estimate of ($3.13) by $0.45, Zacks reports. The business had revenue of $43.00 million during the quarter, compared to analysts’ expectations of $42.11 million. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. During the same period last year, the firm posted ($4.20) EPS. Allbirds updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Allbirds Stock Performance

Shares of BIRD stock traded down $0.77 on Friday, hitting $7.95. The company’s stock had a trading volume of 259,696 shares, compared to its average volume of 56,774. Allbirds has a fifty-two week low of $7.87 and a fifty-two week high of $29.00. The company has a market capitalization of $62.70 million, a PE ratio of -0.49 and a beta of 1.77. The stock’s 50 day moving average is $10.91 and its 200-day moving average is $11.94.

Insiders Place Their Bets

In related news, Director Timothy O. Brown sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.80, for a total value of $29,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Joseph Vernachio sold 2,367 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total transaction of $28,404.00. Following the completion of the sale, the chief executive officer now owns 43,536 shares of the company’s stock, valued at approximately $522,432. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy O. Brown sold 2,500 shares of Allbirds stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,742 shares of company stock worth $68,404 in the last quarter. Corporate insiders own 45.50% of the company’s stock.

Allbirds Company Profile

(Get Free Report)

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.

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