Overview

* RideNow ( RDNW ) Q3 revenue beats analyst expectations despite a 4.7% yr/yr decline

* Adjusted EBITDA for Q3 beats consensus, increasing 80.9% yr/yr

* Net loss improved 63.4% to $4.1 mln, driven by powersports segment growth

Outlook

* RideNow Group ( RDNW ) focuses on powersports segment for future growth

* Company aims to leverage 'back to our roots' strategy for improvement

* RideNow Group ( RDNW ) does not provide specific financial guidance for future periods

Result Drivers

* POWERSports SALES - Higher unit sales in powersports segment led to increased revenue and gross profit

* SG&A REDUCTION - Reduced SG&A expenses by 2.3%, contributing to improved net loss

* STRATEGY IMPACT - 'Back to our roots' strategy credited for driving improved results, per CEO Michael Quartieri

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $281 mln $270.24

Revenue mln (3

Analysts

)

Q3 Net -$4.10

Income mln

Q3 Beat $12.30 $9.06

Adjusted mln mln (3

EBITDA Analysts

)

Q3 Gross $76 mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy."

* Wall Street's median 12-month price target for RideNow Group Inc ( RDNW ) is $3.00, about 9.3% below its November 3 closing price of $3.28

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)