Polished reports Q2 EPS 1c vs (4c) last year

Reports Q2 revenue $87.8M vs $138.5M last year. Rick Bunka, Chief Executive Officer, commented: “The second quarter results are consistent with the estimated range previously provided for both Net Sales and EBITDA. The decline in sales observed during the first half of the year was driven by a pullback in sales in the luxury appliance category and declines across the balance of mass appliance categories. The Polished team remains focused on stabilizing the business and building a foundation for future growth. The Company’s first and second quarter results demonstrate that we can deliver more normalized margins and positive EBITDA on reduced volume. We intend to build on this momentum as our fix-and-rebuild year continues and a foundation is laid for stronger profitability and sustainable cash flow generation in 2024.”