Overview
Plby Group Q2 revenue rises 13% yr/yr, beating analyst expectations, per LSEG data
Adjusted EBITDA for Q2 beats consensus, reflecting improved operational performance
Outlook
Company plans to deleverage balance sheet amid improving credit markets
Company highlights strong licensing pipeline in gaming and beauty
Playboy plans hospitality venue in Miami Beach
Result Drivers
LICENSING REVENUE - Licensing revenue more than doubled due to new partners and renegotiated agreements
HONEY BIRDETTE - Honey Birdette's revenue grew 14%, with improved same-store sales and margins
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $28.15 mln | $26.80 mln (3 Analysts) |
Q2 Net Income |
| -$7.68 mln |
|
Q2 Adjusted EBITDA | Beat | $3.47 mln | $1.33 mln (3 Analysts) |
Q2 Basic EPS |
| -$0.08 |
|
Q2 Operating Expenses |
| -$34.03 mln |
|
Q2 Operating Income |
| -$5.88 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Playboy Inc is $3.00, about 45.7% above its August 11 closing price of $1.63
Press Release: ID:nGNX92YNdt