Solo Stove parent sees full-year revenue well ahead of expectations


Solo Brands Inc. DTC, +6.74% stock rose 2.4% in Wednesday premarket trading after the Solo Stove parent reported third-quarter revenue that beat expectations and gave full-year guidance that beat the Street. Net income totaled $1.2 million, or $0 per share, down from $10.3 million, or 13 cents per share, last year. Sales of $69.4 million were up from $29.2 million. The FactSet consensus was for EPS of 14 cents and sales of $68.1 million. Results include the acquisitions of the Chubbies brand of clothing and Isle paddleboards, which weren’t included last year, as well as Oru Kayak, the company’s brand of folding kayaks. For the full year, revenue is expected to be between $344 million and $352 million. The FactSet consensus is for $323.8 million. Solo Brands began trading on Oct. 28 with shares priced at $17. The stock ended Tuesday at $17.43. The Renaissance IPO ETF IPO, +4.53% has gained 47.2% for the year to date while the S&P 500 index SPX, +2.07% is up 24.8% for the period.

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