Enovix Q2 Adj EPS $(0.19) Beats $(0.22) Estimate, Sales $42.00K Miss $60.00K Estimate
Portfolio Pulse from saritha@benzinga.com
Enovix reported Q2 adjusted EPS of $(0.19), beating the estimate of $(0.22) by 13.64%. However, the company's sales of $42.00K missed the estimate of $60.00K by 30.00%. This represents a 46.15% decrease in EPS and a 99.18% decrease in sales compared to the same period last year.
July 26, 2023 | 8:02 pm
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Enovix's Q2 results beat EPS estimates but missed on sales. The company reported a significant decrease in both EPS and sales compared to the same period last year.
While Enovix beat EPS estimates, the miss on sales and the significant decrease in both EPS and sales compared to the same period last year could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100