Recap: HEXO Q3 Earnings
Portfolio Pulse from Benzinga Insights
HEXO Corp (NASDAQ:HEXO) reported Q3 earnings with a significant miss of 6900.0%, posting an EPS of $-0.7 compared to an estimate of $-0.01. Revenue was down $29.71 million YoY. Last quarter, the company also missed EPS estimates, resulting in a 9.22% share price drop the following day.
June 14, 2023 | 9:05 pm
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NEGATIVE IMPACT
HEXO Corp's Q3 earnings missed estimates by a significant 6900.0%, with an EPS of $-0.7. This follows a similar miss last quarter, which led to a 9.22% share price drop the next day.
HEXO's significant earnings miss of 6900.0% is likely to negatively impact the stock price in the short term. The company's history of missing earnings estimates, as seen last quarter, resulted in a 9.22% share price drop the following day. This pattern may repeat itself due to the magnitude of the miss and the decline in revenue.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100