Stock Track | Soho House Soars 6.92% on Q3 Earnings Beat and Takeover Offer

Stock Track

Dec 20, 2024

Shares of Soho House & Co Inc (SHCO) surged 6.92% in Friday's pre-market session, following the release of its better-than-expected Q3 2024 earnings results and news of a potential takeover offer.

In the third quarter, Soho House reported a 17% year-over-year increase in membership revenue to $107 million, driven by strong membership growth. Total revenue grew 14% to $333 million, and adjusted EBITDA rose 38% to $48 million, indicating improved profitability.

However, the company lowered its full-year guidance, citing weaker-than-expected demand for food, beverage, and accommodation offerings. Total revenue guidance was revised down to around $1.2 billion, while adjusted EBITDA guidance was cut to approximately $140 million from the previous range of $157-$165 million.

Adding to the stock's momentum was news that Soho House received a takeover offer from a consortium, though details of the offer were not disclosed. The company's shares have struggled in recent years, potentially making it an attractive target for investors seeking to take it private.

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Total revenue grew 14% to $333 million, and adjusted EBITDA rose 38% to $48 million, indicating improved profitability.</p>\n\n<p>However, the company lowered its full-year guidance, citing weaker-than-expected demand for food, beverage, and accommodation offerings. Total revenue guidance was revised down to around $1.2 billion, while adjusted EBITDA guidance was cut to approximately $140 million from the previous range of $157-$165 million.</p>\n\n<p>Adding to the stock's momentum was news that Soho House received a takeover offer from a consortium, though details of the offer were not disclosed. The company's shares have struggled in recent years, potentially making it an attractive target for investors seeking to take it private.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SHCO","symbol_name":"SOHO HOUSE & CO INC","start_time":0,"source_url":"","article_id":"1193379138","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1193379138","pubTimestamp":1734705502,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Soho House & Co Inc  surged 6.92% in Friday's pre-market session, following the release of its better-than-expected Q3 2024 earnings results and news of a potential takeover offer.In the third quarter, Soho House reported a 17% year-over-year increase in membership revenue to $107 million, driven by strong membership growth. 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