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Turtle Beach (DE:0P1A)
FRANKFURT:0P1A
Holding DE:0P1A?
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Earnings Data
Report Date
Mar 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
€1.08Last Year’s EPS
€0.48Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 9.52%
|Next Earnings Date:Mar 12, 2025
Earnings Call Sentiment|Positive
The earnings call reflected strong financial performance with significant revenue growth and profitability improvements driven by strategic acquisitions and product innovation. Despite higher operating expenses and inventory levels, the successful integration of PDP and increased market share position Turtle Beach well for future growth. The company is also preparing for increased promotional spending during the holiday season.Company Guidance
During the Turtle Beach Corporation's third quarter 2024 earnings call, the company reported significant financial growth and provided updated guidance for the year. Turtle Beach's revenue for the quarter reached $94.4 million, a 60% increase compared to the previous year, driven by strong sales in gaming accessories and the integration of PDP. Excluding PDP contributions, revenue still grew by 15%. The company achieved an adjusted EBITDA of $16.3 million, a substantial improvement from $1 million in the same period last year, and raised its full-year adjusted EBITDA guidance to a range of $55 million to $58 million. Gross margin also improved to 36.2%, up 630 basis points year-over-year. Turtle Beach anticipates annual synergies from the PDP acquisition to exceed $13 million, up from the initial $10 million to $12 million estimate. The company maintained its full-year revenue guidance of $370 million to $380 million, reflecting 45% growth at the midpoint compared to 2023. Additionally, Turtle Beach continued its share repurchase program, buying back approximately $10.1 million of stock during the quarter.Record Revenue Growth
Turtle Beach reported third quarter revenue of $94.4 million, marking a 60% increase compared to the same quarter last year. Excluding PDP contributions, revenues were up 15%.
Improved Profitability
Adjusted EBITDA for the quarter was $16.3 million, significantly improving from $1 million in the same period last year. This was driven by higher revenues and greater cost efficiencies.
Gross Margin Expansion
Gross margin for the third quarter was 36.2%, a 630 basis point improvement from last year. Excluding certain charges, the margin would have been 38.3%.
Successful PDP Integration
The integration of PDP is ahead of schedule, with anticipated annual synergies now exceeding $13 million, surpassing original estimates.
Increased Market Share
Turtle Beach's gaming headsets revenue share increased by 108 basis points in Q3. The company also saw a 37.9% increase in retail sales in the controllers and game pads category.
Strategic Share Repurchases
The company repurchased approximately $10.1 million of its stock in Q3, bringing year-to-date repurchases to about $25.3 million.
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DE:0P1A Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DE:0P1A Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | €14.70 | €15.00 | +2.04% |
| Aug 08, 2024 | €11.40 | €13.60 | +19.30% |
| May 07, 2024 | €14.10 | €14.30 | +1.42% |
| Mar 13, 2024 | €11.78 | €12.82 | +8.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Turtle Beach (DE:0P1A) report earnings?
Turtle Beach (DE:0P1A) is schdueled to report earning on Mar 12, 2025, TBA Not Confirmed.
What is Turtle Beach (DE:0P1A) earnings time?
Turtle Beach (DE:0P1A) earnings time is at Mar 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Turtle Beach stock?
The P/E ratio of Turtle Beach is 57.9.
What is DE:0P1A EPS forecast?
DE:0P1A EPS forecast for the fiscal quarter 2024 (Q4) is €1.08.
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