Purple Innovation reports Q3 adjusted EPS (8c), consensus (10c)

Reports Q3 revenue $118.6M, consensus $126.62M. “While our third quarter revenue was challenged, we are encouraged by both our year-to-date performance modestly exceeding the broader industry and the sustained improvements in our profitability,” said CEO Rob DeMartini. “The restructuring plan we announced earlier this quarter is on track to deliver meaningful cost savings in the new year as we improve our operational efficiencies and positions us to capitalize on tailwinds when the market improves. Looking forward, we remain confident in our Path to Premium Sleep strategy’s ability to deliver long-term value and we look forward to building on this momentum into 2025.”