Northern Technologies Clocks 10.6% Sales Growth In Q3
Portfolio Pulse from Nabaparna Bhattacharya
Northern Technologies International Corp (NTIC) reported Q3 FY23 sales of $20.97 million, a 10.6% YoY growth, but missed the estimate of $20.60 million. Adjusted EPS was $0.17, missing the consensus of $0.19. The company's sales growth was aided by solid performance across ZERUST Industrial, ZERUST oil and gas, and Natur-Tec segments. NTIC shares traded higher by 5.37% at $11.47 on the last check Thursday.
July 13, 2023 | 3:15 pm
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Northern Technologies reported a 10.6% YoY sales growth in Q3 FY23 but missed estimates. Adjusted EPS also missed consensus. Despite this, NTIC shares traded higher.
Despite missing sales and EPS estimates, NTIC's shares traded higher, possibly due to the solid performance across its segments and the company's positive outlook. The 10.6% YoY sales growth could also have contributed to the positive market reaction.
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IMPORTANCE 80
RELEVANCE 100