Why Arhaus Stock Exploded Higher on Wednesday
Shares of Arhaus (NASDAQ: ARHS) charged sharply higher on Wednesday, surging as much as 27.5%. As of 10:49 a.m. ET, the stock was still up 22.9%.
The catalysts that sent the purveyor of high-end furniture higher were quarterly earnings results that were far better than expected.
For the fourth quarter, Arhaus generated revenue of $238 million, up 46% year over year. The company's gross profit margin expanded by 208 basis points to 41.4%, up from 39.3% in the prior-year quarter. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $123 million climbed 77%. This resulted in adjusted net income of $17 million and adjusted earnings per share (EPS) of $0.15.
Source Fool.com
