IRobot Slips After Company Warns About Potential Roomba Tariffs
- Second-quarter sales, earnings beat Wall Street expectations
- Company gives bullish forecast on pandemic vacuum demand
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IRobot Corp. shares dropped after the company warned that its Roomba autonomous vacuums could be hit with trade tariffs later this year.
“On April 24, the United States Trade Representative granted iRobot an exclusion for its Roomba robot vacuums from Section 301 tariffs through August 7, 2020. The company does not yet know whether an extension for its exclusion beyond the expiration date will be granted,” iRobot said in its earnings release on Tuesday. The stock fell almost 4% in extended trading.