Why VOXX Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
VOXX International Corporation reported a Q1 FY24 revenue decline of 13.1% Y/Y to $111.9 million, missing the consensus of $122.3 million. Net sales declined in both the Automotive Electronics and Consumer Electronics segments. The company reported a loss per share of $(0.45), missing the consensus loss of $(0.22). VOXX shares traded lower by 13.7% to $9.79 premarket on the last check Tuesday.
July 11, 2023 | 10:53 am
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VOXX International's Q1 FY24 revenue and earnings missed consensus estimates, leading to a premarket drop in share price.
VOXX International reported lower than expected revenue and earnings for Q1 FY24. This negative financial performance is likely to negatively impact investor sentiment and drive the stock price down in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100