BUSINESS

Purple, Ultra Clean report first-quarter losses, issue guidance

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Lehi, Utah and Hayward, California. Purple Innovation and Ultra Clean each reported first-quarter results on Tuesday: Purple disclosed a $30.5 million net loss with $95.7 million in revenue in the period, and Ultra Clean reported a $17.9 million net loss with $533.7 million in revenue for its first quarter. This week both companies provided forward guidance: Purple gave a full-year revenue range of $465 million to $485 million, while Ultra Clean forecasted per-share earnings of $0.44 to $0.60 and revenue between $565 million and $605 million for the quarter ending in June; the reports were distributed via Automated Insights using Zacks data.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

Companies completed fiscal first-quarter operations prior to reporting.
On Tuesday, Associated Press distributed automated Q1 earnings summaries.
Purple Innovation reported a $30.5M Q1 loss and issued full-year revenue guidance.
Ultra Clean reported a $17.9M Q1 loss and gave Q2 EPS and revenue guidance.
Reports cited data from Zacks Investment Research and were generated by Automated Insights.

Why This Matters to You

If you're an investor in Purple Innovation or Ultra Clean, these losses could impact your portfolio. It's a good time to review your investments and consider if they align with your financial goals.

The Bottom Line

Both companies are optimistic about the future, despite Q1 losses. They've issued forward guidance, which is a company's prediction of its own earnings. It's worth knowing that these are just projections, not guarantees. If you're invested in these companies, keep a close eye on their performance. Worth forwarding if you know someone with stocks in these companies.