Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Sonos, Inc.
  6. News
  7. Summary
    SONO   US83570H1086

SONOS, INC.

(SONO)
  Report
Delayed Quote. Delayed Nasdaq - 01/14 04:00:00 pm
27.81 USD   -5.66%
01/07Sonos wins Google import ban ruling in U.S. patent fight
RE
01/07Sonos Shares Rise After Trade Regulator Ban on US Imports of Some Google Products
MT
01/06INSIDER SELL : Sonos
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sonos forecasts 2022 sales above estimates; shares tick up

11/17/2021 | 04:16pm EST

(In paragraph 4, corrects to say company reported a profit, excluding items, of 8 cents per share, not an adjusted loss of 7 cents per share)

Nov 17 (Reuters) - Sonos Inc on Wednesday forecast fiscal 2022 sales above analyst estimates, despite facing backlogs for its smart speakers because of supply constraints.

Sonos said it expects fiscal 2022 sales of between $1.925 billion and $2 billion, above Wall Street estimates of $1.86 billion, according to IBES data from Refinitiv.

Shares of Sonos were up 2.6% to $34.33 in after-hours trading following the results.

For the fiscal fourth quarter ended Oct. 2, Sonos said sales were $359.54 million and reported a profit, excluding items, of 8 cents per share, compared with expectations for sales of $360.2 million and a loss of 7 cents per share, according to Refinitiv data.

Santa Barbara, California-based Sonos has fended off challenges from major tech companies such as Apple Inc that tried to enter the market for premium-priced smart speakers but have since scaled back to lower price points. Sonos earlier this year introduced Roam, a sub-$200 product that aims to introduce the Sonos brand to a broader audience.

Sonos said it expects gross margins of 46% to 47% for fiscal 2022, in line with analyst expectations. The company in recent years diversified its supply chain away from China to include Malaysian factories in an effort to mitigate U.S. tariffs. This year it has worked though both chip shortages and backups at U.S. ports.

Chief Executive Patrick Spence said the company imports its products via planes and ships, depending on the size.

"We've particularly pushed on air to try and make sure that we're meeting customer needs in the holiday period," Spence told Reuters, noting that the uptick in air cargo is factored into the company's margin forecast. "We'll do whatever we can to sustainably bring products in and be smart about that."

Sonos also said it had finished a $100 million share buy-back program and will initiate a new $150 million repurchase program. (Reporting by Stephen Nellis in San Francisco; Editing by Leslie Adler)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.51% 173.07 Delayed Quote.-2.53%
SONOS, INC. -5.66% 27.81 Delayed Quote.-6.68%
All news about SONOS, INC.
01/07Sonos wins Google import ban ruling in U.S. patent fight
RE
01/07Sonos Shares Rise After Trade Regulator Ban on US Imports of Some Google Products
MT
01/06INSIDER SELL : Sonos
MT
2021Morgan Stanley Cuts Price Target on Sonos to $49 From $53, Overweight Rating Maintained
MT
2021Sonos Announces Long-term Sustainability Commitment
BU
2021Sonos Accelerates Product and Organizational Development With Two Dynamic New Leaders
BU
2021Sonos Announces Executive Appointments
CI
2021SONOS INC Management's Discussion and Analysis of Financial Condition and Results of O..
AQ
2021Morgan Stanley Adjusts Sonos' Price Target to $53 From $51, Reiterates Overweight Ratin..
MT
2021INSIDER SELL : Sonos
MT
More news
Analyst Recommendations on SONOS, INC.
More recommendations
Financials (USD)
Sales 2022 1 947 M - -
Net income 2022 184 M - -
Net cash 2022 814 M - -
P/E ratio 2022 20,9x
Yield 2022 -
Capitalization 3 535 M 3 535 M -
EV / Sales 2022 1,40x
EV / Sales 2023 1,13x
Nbr of Employees 1 525
Free-Float -
Chart SONOS, INC.
Duration : Period :
Sonos, Inc. Technical Analysis Chart | SONO | US83570H1086 | MarketScreener
Technical analysis trends SONOS, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 27,81 $
Average target price 45,33 $
Spread / Average Target 63,0%
EPS Revisions
Managers and Directors
Patrick Spence President, Chief Executive Officer & Director
Brittany Bagley Chief Financial Officer
Michelangelo A. Volpi Chairman
Maxime Bouvat-Merlin Senior VP-Hardware & Operations
Julius Genachowski Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SONOS, INC.-6.68%3 535
SONY GROUP CORPORATION-1.97%154 493
PANASONIC CORPORATION3.60%26 864
LG ELECTRONICS INC.1.81%20 969
LARGAN PRECISION CO.,LTD-15.62%10 343
SHARP CORPORATION-0.53%7 050