Why Catalent Stock Is Trading Higher Today
Portfolio Pulse from Ryan Gustafson
Catalent, Inc. (NYSE:CTLT) shares are trading higher after posting mixed Q3 financial results. The company reported a loss of 9 cents per share, missing analyst estimates, but quarterly sales of $1.04 billion beat the consensus estimate of $952.66 million.
June 12, 2023 | 6:12 pm
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Catalent's mixed Q3 results show higher sales but a larger loss per share than expected, leading to an increase in stock price.
Catalent's stock price is trading higher due to the mixed Q3 results. While the company reported a larger loss per share than expected, the sales beat analyst estimates, indicating strong demand for their services. This positive sales performance outweighs the negative EPS, leading to an increase in stock price.
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