Peloton Interactive, the renowned maker of spin bikes and treadmills, is set to release its fiscal-first-quarter earnings on Thursday before the market opens. According to analysts surveyed by FactSet, a decline in revenue is expected.
For the fiscal first quarter that ended on September 30, analysts anticipate a loss of 34 cents per share for Peloton, with revenue amounting to $589 million. Comparatively, in the same period last year, Peloton posted a loss of $1.20 per share on revenue of $617 million.
In response to these concerns, Chief Financial Officer Elizabeth Coddington stated during the company’s fourth-quarter earnings call in August that Peloton expects churn to decrease in the fiscal first quarter as seasonal trends improve.
While Peloton thrived during the pandemic when gyms were closed and in-person gatherings were restricted, the company has encountered challenges now that gyms have reopened and consumer wallets are being squeezed by inflation. Peloton’s stock shares have plummeted from a record high of $167.42 in January 2021 to $4.72 in Wednesday trading, marking a decline of 97%, according to Dow Jones Market Data.