By Exec Edge Editorial Staff
Solo Brands, Inc. (NYSE: DTC) shares rose 15% on Thursday after the lifestyle outdoor products company reported adjusted earnings per share for fourth quarter that beat the average analyst estimate.
The company said adjusted EPS in the fourth quarter was 33 cents, up from a Bloomberg estimate of 23 cents.
Net sales for 2022 rose 28.2% to $517.6 million, Solo Brands said. Total revenue is expected to be between $520 million to $540 million for 2023, it said.
“Throughout 2022 our team executed our playbook, and as a result, our direct-to-consumer, wholesale and international businesses all grew,” said John Merris, CEO of Solo Brands. “In 2023, while the macro conditions create ongoing uncertainty, we remain confident in our brands and our game plan and look forward to executing our near and long-term strategies.”