HEXO: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
HEXO Corp reported Q3 earnings with an EPS of $-0.7, missing estimates by 6900.0%. Revenue was down $29.71 million from the same period last year. Last quarter, the company missed EPS by $0.1, resulting in a 9.22% drop in share price the next day.
June 14, 2023 | 9:05 pm
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NEGATIVE IMPACT
HEXO's Q3 earnings missed estimates significantly with an EPS of $-0.7, and revenue down $29.71 million YoY. Last quarter's miss resulted in a 9.22% share price drop.
HEXO's significant earnings miss and lower revenue compared to last year are likely to negatively impact the stock price in the short term. The company's history of share price dropping 9.22% after last quarter's earnings miss further supports this expectation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100