Solo Brands (NYSE:DTC), makers of a range of outdoor products from the Solo stove to the Oru kayak, surged over 13% in today’s trading session. While some might wonder if macroeconomic conditions are really conducive to outdoor gear sales, the Solo stove appears to be lit in several ways.
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Analysts looked for Solo Brands to bring in $0.23 per share in earnings but blasted that figure out of the water, posting $0.33 per share. Revenue was a similar beat, with the $197.24 million posted coming in over 28% higher than expectations. It also readily beat the year-ago figure of $176.47 million.
Projections for the next quarter, though, were a little dicey. Solo expects to post between $520 million and $540 million in revenue, which is roughly what analysts expected when they called for $538.56 million. However, that’s actually pretty positive; Solo brought in $517.6 million a year prior. That would make Solo’s estimates a significant step up.
Looking at the last five trading days, it’s clear just how crucial today’s earnings report actually was. DTC stock was trending downward until it hit that spectacular upward burst. It gave back a fairly substantial portion of those gains, but it’s still well above where it was this time five days ago.
