Why Is Arhaus (ARHS) Stock Rocketing Higher Today
What Happened:
Shares of luxury furniture retailer Arhaus (NASDAQ:ARHS) jumped 18.2% in the morning session after the company reported fourth quarter results that blew past analysts’ operating income and EPS forecasts. Its revenue also outperformed Wall Street’s estimates. Those two beats were driven by better-than-expected same-store sales performance (6.8% decline compared to an estimated 10.4% decline).
Given the strong quarter, management shared upbeat revenue and EBITDA guidance for the full year 2024, easily topping analysts’ estimates.
Because its free cash flow for the full year 2023 beat its internal projections, Arhaus declared a special, one-time cash dividend of $0.50 per share – this represents a ~4% yield on the current share price. The dividend will be payable on April 4, 2024, to shareholders of record on March 21, 2024.
Overall, this quarter’s results seemed fairly positive, and shareholders should feel optimistic.
Is now the time to buy Arhaus? Find out by reading the original article on StockStory.
What is the market telling us:
Arhaus’s shares are very volatile and over the last year have had 23 moves greater than 5%. But moves this big are very rare even for Arhaus and that is indicating to us that this news had a significant impact on the market’s perception of the business.
Arhaus is up 27.6% since the beginning of the year. Investors who bought $1,000 worth of Arhaus’s shares at the IPO in November 2021 would now be looking at an investment worth $1,163.
