Universal Electronics Q3 2023 Adj EPS $0.08 Beats $0.06 Estimate, Sales $107.09M Miss $111.70M Estimate
Portfolio Pulse from totan@benzinga.com
Universal Electronics (NASDAQ:UEIC) reported Q3 2023 earnings of $0.08 per share, beating the analyst consensus estimate of $0.06 by 33.33%. However, the company's quarterly sales of $107.09 million missed the analyst consensus estimate of $111.70 million by 4.12%. This represents a 92% decrease in earnings and a 27.87% decrease in sales compared to the same period last year.
November 02, 2023 | 9:03 pm
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NEUTRAL IMPACT
Universal Electronics reported better than expected earnings but lower than expected sales for Q3 2023. This mixed report, along with significant YoY decreases in both earnings and sales, may lead to uncertainty in the market.
While the company beat earnings estimates, the miss on sales and significant YoY decreases in both earnings and sales could lead to mixed market reactions. Investors may be pleased with the earnings beat, but concerned about the sales miss and overall downward trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100