Honest Company raises FY23 revenue view to up mid-single to high-single digits

Consensus $328.37M. Previous revenue view was up low-single to mid-single digits. Raises FY23 adjusted EBITDA view to ($18M)-($15M) from ($26M)-($22M). The company said, “The fourth quarter Adjusted EBITDA(1) outlook reflects revenue growth, significant gross margin expansion versus the year-ago period, and operating expense discipline. Included in the fourth quarter Adjusted EBITDA outlook is approximately $1.0 million in Transformation Initiative costs.”