What happened

Shares of At Home Group (NYSE:HOME) fell 20% on Wednesday morning after the home decor retailer provided a dismal outlook for the current quarter. The decline came even though the company reported fiscal fourth-quarter results in line with estimates.

So what

At Home Group reported fiscal fourth-quarter adjusted earnings of $0.47 per share, just shy of the consensus for $0.48, on revenue of $354.1 million -- over $2 million more than analysts had expected. The quarter was the company's 19th straight with more than 20% sales growth and its 20th straight with comparable-store sales increases.

Illustration of a man frustrated by a falling stock chart.

Image source: Getty Images.

But investors were more focused on At Home's projections for the current quarter. The company said it expects fiscal first-quarter adjusted earnings of $0.03 to $0.04 per share, versus the $0.20 average analyst estimate, on sales between $300 million and $305 million, which fell within expectations.

At Home blamed unfavorable weather and a late-season Easter for the conservative forecast for the quarter. The company sees full fiscal 2020 adjusted earnings of $1.02 to $1.08 per share, within range of the $1.06 analyst consensus.

Check out the latest earnings call transcript for At Home Group.

Now what

This is the second straight quarter that At Home Group shares were pressured by the company's outlook, following a 34.5% share price decline in December.

The company has big plans for 2020, including growing its store base by 18%, increasing marketing efforts, and opening a new distribution center. But if Wednesday's share price reaction is any indication, investors are growing impatient waiting to see that sales growth turn into sustainable and consistent profits.