Solo Brands Up 9% As Quarterly Earnings Beat Street View

(RTTNews) - Shares of Solo Brands, Inc. (DTC), a direct-to-consumer platform operator, are rising more than 9% in the morning trade on Thursday after reporting better-than-expected second-quarter results.

The company reported net loss of $12.04 million or $0.19 per share in the second quarter, compared with net income of $19.5 million a year ago, on higher expenses. An impairment Charges of $30.6 million were recorded in the latest quarter.

Excluding one-time items, earnings were $17.35 million or $0.40 per share, that beat the average estimate of 7 analysts polled by Thomson Reuters of $0.28 per share.

Net sales for the quarter increased 53.3% year-on-year to $136.02 million, on higher demand. The consensus estimate was for $125.07 million.

Looking forward to the full year, revenue is expected to grow in the mid-20% range. Analysts expect revenue growth of 35.9% for the year.

DTC, currently at $6.62, has traded in the range of $3.66-$23.39.