Playboy Q2 Revenue Beats, Adjusted EBITDA Doubles; Plans 14% Buyback
PLBY sits 21% above its 52-week low of $1.081.
Summary
Playboy delivered a strong Q2, with revenue of $31.2M beating the $29.7M consensus and adjusted EBITDA doubling to $7M, well above the $4.61M estimate. The beat was driven by Honey Birdette's 18.2% sales growth and a 17% drop in operating expenses. The company also announced a 16.6M share repurchase, nearly 14% of shares outstanding, adding to the positive surprise. This follows the June buyback of Fortress's stake and signals continued capital return. The stock, trading at $1.31, remains well below the $3.00 median analyst target.
At the time of this announcement, PLBY was trading at $1.31 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $136.8M. The 52-week trading range was $1.08 to $2.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.