The Honest Co. Tanks 19% In After-trade Following FY22 Outlook, Q4 Results

(RTTNews) - Shares of consumer goods company The Honest Company (HNST) are down 19 percent in Thursday's after-market trade after the company provided negative outlook for fiscal 2022. The company's fourth-quarter results also came in below market estimates.

In full-year 2022, the company expects revenue to be approximately flat compared to last year.

The first-quarter revenue is projected to decline by around 15 percent from the previous year. In the following three quarters, mid-single digit growth is expected compared to 2021.

In the fourth-quarter, net loss was $9.0 million or $0.10 per share, narrower than net loss of $12.7 million or $0.37 per share in the same period last year. Revenues for the three-month period rose marginally to $80.4 million from $77.8 million a year ago.

On average, 9 analysts polled by Thomson Reuters expected the company to post net loss of $0.06 per share on revenues of $84.6 million in the quarter.

The stock ended Thursdays' trade at $6.04, up $0.08 or 1.3%. In after-hours, HSNT is trading down 19 percent or $1.18 to $4.86.