RTTNews | Jun 29, 2021 01:24PM EDT

13:24 Tuesday, June 29, 2021 (RTTNews.com) - Shares of mattress company Purple Innovation Inc. (PRPL) are down 2 percent on Tuesday's trading after the company lowers its second-quarter revenues outlook and also withdrew its full-year guidance due to an accident and safety issue at its production plant.

The company now expects second-quarter revenue to range from $175 million to $185 million down from the earlier announced $200-$210 million range. Purple Innovation also withdrew its second-quarter adjusted EBITDA outlook between $21 million and $25 million. Analysts polled by Thomson Reuters expect the company to report revenues of $207 million in the quarter.

The company also withdrew its full-year 2021 outlook of revenues between $860 million and $900 million and adjusted EBITDA in the range of $95 million to $105 million.

Currently trading at $27.22, the stock has traded between $17.01 and $41.08 during the past 52 weeks.

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