Xcel Brands Q2 revenue falls on brand divestiture
XELB•Outlook and analyst view
The company did not provide specific guidance for future quarters or the full year.
The one available analyst rating on the shares is buy. Wall Street's median 12-month price target for Xcel Brands Inc is $4.00, about 292.2% above its August 12 closing price of $1.02.
Loss narrows and EBITDA improves
Xcel said its second-quarter net loss narrowed to $2.5 million from $4.0 million a year earlier.
Adjusted EBITDA improved from the first quarter, driven by the product launch of two influencer-led brands, according to CEO Robert W. D'Loren, along with further reductions in operating expenses.
Revenue falls after Judith Ripka sale
US media and consumer products firm Xcel Brands said second-quarter revenue fell 14% year over year, mainly due to the sale of the Judith Ripka brand.
The company reported Q2 revenue of $1.12 million, missing the consensus estimate of $1.80 million from one analyst.
