ChampionX Q3 Adj. EPS $0.41 Misses $0.50 Estimate, Sales $939.80M Miss $974.12M Estimate
Portfolio Pulse from Benzinga Newsdesk
ChampionX (NASDAQ:CHX) reported Q3 earnings of $0.41 per share, missing the analyst consensus estimate of $0.50 by 18%. The company also reported quarterly sales of $939.80 million, missing the analyst consensus estimate of $974.12 million by 3.52%. This represents a 24.24% increase in earnings but an 8.04% decrease in sales compared to the same period last year.
October 24, 2023 | 8:33 pm
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NEGATIVE IMPACT
ChampionX's Q3 earnings and sales missed analyst estimates, which could negatively impact the company's stock price in the short term.
ChampionX's earnings and sales for Q3 have both missed analyst estimates. This underperformance could lead to a decrease in investor confidence, potentially leading to a short-term drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100