Universal Electronics Q2 Adj EPS $(0.06) Beats $(0.19) Estimate, Sales $107.39M Miss $109.21M Estimate
Portfolio Pulse from mahesh@benzinga.com
Universal Electronics (NASDAQ:UEIC) reported Q2 losses of $(0.06) per share, beating the analyst consensus estimate of $(0.19) by 68.42%. However, the company's quarterly sales of $107.39 million missed the analyst consensus estimate of $109.21 million by 1.67%. This represents a 109.09% decrease in earnings and a 22.80% decrease in sales compared to the same period last year.
August 04, 2023 | 2:22 pm
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Universal Electronics reported better than expected Q2 earnings but missed on sales. Earnings and sales are down significantly compared to last year.
While Universal Electronics beat earnings estimates, the miss on sales and the significant year-over-year decreases in both earnings and sales could negatively impact investor sentiment and the stock price in the short term.
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