CORRECTION: On Holding Q2 Adj. EPS $0.04 Misses $0.13 Estimate, Sales $494.08M Beat $463.07M Estimate
Portfolio Pulse from Benzinga Newsdesk
On Holding (NYSE:ONON) reported Q2 earnings of $0.04 per share, missing the analyst consensus estimate of $0.13 by 69.23%. This is a 73.33% decrease from the same period last year. However, the company reported quarterly sales of $494.08 million, beating the analyst consensus estimate of $463.07 million by 6.70%. This is a 63.35% increase from the same period last year.
August 15, 2023 | 10:08 am
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NEUTRAL IMPACT
On Holding's Q2 earnings missed estimates by 69.23%, but sales beat estimates by 6.70%. This mixed result could lead to uncertainty in the market.
On Holding's earnings miss could negatively impact the stock price as it indicates lower profitability. However, the sales beat could offset this as it shows strong demand for the company's products. The net impact on the stock price is uncertain.
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IMPORTANCE 80
RELEVANCE 100