iRobot sweeps through congestion, pivots to Malaysia

China 2901 Cons. Discr. - Durables 454 Earnings 668 Malaysia 125 Quote Watch 439 U.S. 5203

Cleaning equipment maker iRobot reported revenue growth of 30.6% year over year in Q2’21, supported by a 152.7% surge in U.S. seaborne imports linked to the firm. That growth has come at the expense of “increasing costs for ocean transportation, sourcing materials on the open market, increased raw material costs, as well as increased air freight” according to CFO Julie Zeller. The “supply chain constraints and cost headwinds are temporary” according to CEO Colin Angle. Nonetheless, the company appears to have had to deal with the closure of Yantian port in China, which may increase its w...

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