Symbotic (SYM, Financial), a leading robotics company, announced its fourth-quarter earnings report, revealing a significant revenue increase to $577 million, a 47.1% year-over-year growth and $106 million above expectations. After a loss in the third quarter, the company returned to profitability with earnings per share of $0.05, surpassing market expectations. This positive news led to a 28% surge in pre-market trading.
For the fiscal year 2024, Symbotic reported a revenue of $1.822 billion, marking a 55% increase from the previous year, with a net loss of $51 million. The company achieved an adjusted EBITDA of $96 million. Looking ahead to the first quarter of fiscal year 2025, Symbotic projects revenue between $495 million and $515 million, with an adjusted EBITDA ranging from $27 million to $31 million.
Carol Hibbard, the CFO of Symbotic, expressed optimism about the company's continuous revenue growth and stable gross margins, highlighting plans for targeted investments to capitalize on expanding opportunities. Despite some slight declines in gross margins due to resource allocation in large projects, Hibbard expects profitability in operating services to improve moderately throughout the fiscal year.
Year-to-date, Symbotic's stock has decreased by 41%, contrasting with the S&P 500 index's approximate 24% uptick. Analyst sentiment remains mostly positive on Wall Street, with 10 out of 17 analysts strongly recommending a buy, four advising to hold, two suggesting a buy, and one recommending a sell.
