Bassett Furniture Industries Third Quarter 2024 Earnings: Misses Expectations

Bassett Furniture Industries (NASDAQ:BSET) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$75.6m (down 13% from 3Q 2023).
• Net loss: US$4.51m (loss widened by 74% from 3Q 2023).
• US$0.52 loss per share (further deteriorated from US$0.30 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bassett Furniture Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 37%.

Looking ahead, revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Bassett Furniture Industries, and understanding this should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.