Kaival Brands Innovations Q3 EPS $(0.03) Up From $(0.09) YoY, Sales $3.58M Miss $15.10M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kaival Brands Innovations (NASDAQ:KAVL) reported Q3 losses of $(0.03) per share, a 66.67% improvement from $(0.09) per share YoY. However, the company's quarterly sales of $3.58M missed the analyst consensus estimate of $15.10M by 76.27%, marking a 6.85% decrease from the same period last year.
September 20, 2023 | 12:17 pm
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NEGATIVE IMPACT
Kaival Brands Innovations reported improved Q3 losses but significantly missed sales estimates. This could negatively impact the stock in the short term.
While the company's losses have improved YoY, the significant miss on sales estimates is a negative signal. This could lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100