UPDATE: Middlesex Water Q2 EPS $0.55 Misses $0.60 Estimate, Sales $42.80M Miss $45.00M Estimate
Portfolio Pulse from Happy Mohamed
Middlesex Water (NASDAQ:MSEX) reported Q2 earnings of $0.55 per share, missing the analyst consensus estimate of $0.60 by 8.33%. The company also reported quarterly sales of $42.80 million, missing the analyst consensus estimate of $45.00 million by 4.89%. However, both earnings and sales have increased compared to the same period last year.
July 30, 2023 | 7:02 pm
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NEGATIVE IMPACT
Middlesex Water's Q2 earnings and sales missed analyst estimates, which could negatively impact the stock price in the short term. However, the YoY growth in both earnings and sales might mitigate this impact.
Missing analyst estimates for both earnings and sales is generally seen as a negative signal by the market, which could lead to a short-term decrease in the stock price. However, the YoY growth in both earnings and sales indicates the company's overall financial health, which might offset the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100