UPDATE: Algoma Steel Gr Q1 EPS $0.63 Misses $0.70 Estimate, Sales $615.78M Beat $611.28M Estimate
Portfolio Pulse from Happy Mohamed
Algoma Steel Gr (NASDAQ:ASTL) reported Q1 earnings of $0.63 per share, missing the analyst consensus estimate of $0.70 by 9.57%. This is a 45.9% decrease from the same period last year. However, the company's quarterly sales of $615.78 million beat the analyst consensus estimate of $611.28 million by 0.74%, despite being a 15.88% decrease from the same period last year.
August 10, 2023 | 9:54 pm
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NEGATIVE IMPACT
Algoma Steel's Q1 earnings missed estimates and decreased from last year, but sales beat estimates and also decreased from last year.
Algoma Steel's earnings miss and year-over-year decrease could negatively impact investor sentiment, potentially leading to a short-term decrease in the stock price. However, the sales beat might mitigate some of this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100