Healthcare apparel company Figs (NYSE:FIGS) will be reporting results this Thursday after market close. Here’s what investors should know.
Figs beat analysts’ revenue expectations by 4.8% last quarter, reporting revenues of $124.9 million, up 4.7% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and an impressive beat of analysts’ EBITDA estimates. It reported 2.7 million active customers, up 3.8% year on year.
Is Figs a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Figs’s revenue to be flat year on year at $144.7 million, slowing from the 4.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Figs has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Figs’s peers in the 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 6.4%, beating analysts’ expectations by 5.8%, and ThredUp reported revenues up 16.4%, topping estimates by 4%. Levi's traded up 11.1% following the results while ThredUp was also up 5.4%.
Read our full analysis of Levi’s results here and ThredUp’s results here.
Investors in the apparel and accessories segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Figs is up 7.6% during the same time and is heading into earnings with an average analyst price target of $4.83 (compared to the current share price of $6.22).
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