Owlet Q2 Adj EPS $(0.56) Beats $(0.72) Estimate, Sales $13.10M Miss $14.38M Estimate
Portfolio Pulse from totan@benzinga.com
Owlet (NYSE:OWLT) reported Q2 adjusted EPS of $(0.56), beating the estimate of $(0.72) by 22.22%. However, the company's sales of $13.10M missed the estimate of $14.38M by 8.90%. This represents a 75% increase in losses and a 28.42% decrease in sales compared to the same period last year.
August 14, 2023 | 8:09 pm
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NEUTRAL IMPACT
Owlet's Q2 results showed a mixed performance with EPS beating estimates but sales missing them. The company's losses increased significantly while sales decreased compared to last year.
While Owlet's EPS beat estimates, which is a positive sign, the company's sales missed estimates and decreased compared to last year, which is a negative sign. The increase in losses also raises concerns about the company's profitability. These mixed results could lead to uncertainty in the market, potentially keeping the stock price stable in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100