Acme United Clocks 6% Sales Decline In Q2, Actively Evaluating Potential Acquisitions
Portfolio Pulse from Nabaparna Bhattacharya
Acme United Corporation (ACU) reported a 6% YoY decline in Q2 FY23 net revenue to $53.336 million, missing the analyst consensus of $58.480 million. However, EPS of $0.96 beat the analyst consensus of $0.52. The company is actively evaluating potential acquisitions. ACU shares are trading higher by 7.16% at $26.79.
July 21, 2023 | 3:47 pm
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Acme United's Q2 revenue missed analyst expectations but EPS beat estimates. The company is considering acquisitions. ACU shares are up 7.16%.
Despite the revenue miss, Acme United's EPS beat and the news of potential acquisitions seem to have positively impacted the stock. The 7.16% increase in share price indicates market optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100