Financial News

Figs (FIGS) To Report Earnings Tomorrow: Here Is What To Expect

FIGS Cover Image

Healthcare apparel company Figs (NYSE:FIGS) will be announcing earnings results tomorrow after market hours. Here’s what to expect.

Figs beat analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $144.2 million, up 4.4% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ earnings estimates. It reported 2.63 million active customers, up 6.1% 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 $143.3 million, slowing from the 10.7% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.

Figs Total Revenue

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 only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3.7% on average.

Looking at Figs’s peers in the apparel, accessories and luxury goods segment, some have already reported their Q3 results, giving us a hint as to what we can expect. VF Corp’s revenues decreased 5.6% year on year, beating analysts’ expectations by 1.6%, and Kontoor Brands reported revenues up 2.4%, topping estimates by 1%. VF Corp traded up 27% following the results while Kontoor Brands was also up 6.7%.

Read our full analysis of VF Corp’s results here and Kontoor Brands’s results here.

There has been positive sentiment among investors in the apparel, accessories and luxury goods segment, with share prices up 3.3% on average over the last month. Figs is down 5.3% during the same time and is heading into earnings with an average analyst price target of $6 (compared to the current share price of $6.11).

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