Allbirds (NASDAQ:BIRD) Announces Quarterly Earnings Results

Allbirds (NASDAQ:BIRD) announced its quarterly earnings results on Wednesday. The company reported ($2.68) EPS for the quarter, beating 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 firm had revenue of $43.00 million for the quarter, compared to analyst estimates of $42.11 million. During the same period last year, the firm posted ($4.20) earnings per share. 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 during trading on Friday, reaching $7.95. 259,696 shares of the company’s stock were exchanged, compared to its average volume of 56,774. Allbirds has a one year low of $7.87 and a one year high of $29.00. The firm has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $11.94. The stock has a market capitalization of $62.70 million, a PE ratio of -0.49 and a beta of 1.77.

Insider Activity

In other Allbirds news, CEO Joseph Vernachio sold 2,367 shares of Allbirds stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $12.00, for a total transaction of $28,404.00. Following the transaction, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at approximately $522,432. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Joseph Vernachio sold 2,367 shares of the 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 sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy O. Brown sold 2,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,742 shares of company stock valued at $68,404. 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.