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

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

Allbirds Trading Down 8.8 %

BIRD traded down $0.77 on Friday, hitting $7.95. 259,696 shares of the company were exchanged, compared to its average volume of 56,774. The firm has a 50-day moving average price of $10.91 and a two-hundred day moving average price of $11.94. The company has a market cap of $62.70 million, a price-to-earnings ratio of -0.49 and a beta of 1.77. Allbirds has a twelve month low of $7.87 and a twelve month high of $29.00.

Insiders Place Their Bets

In other Allbirds news, CEO Joseph Vernachio sold 2,367 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total value of $28,404.00. Following the transaction, the chief executive officer now directly owns 43,536 shares in the company, valued at $522,432. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Timothy O. Brown sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joseph Vernachio sold 2,367 shares of Allbirds stock in a transaction 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 transaction, the chief executive officer now owns 43,536 shares in the company, valued at approximately $522,432. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,742 shares of company stock worth $68,404 in the last 90 days. Corporate insiders own 45.50% of the company’s stock.

About Allbirds

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.