Algoma Steel Gr Q2 2024 EPS $0.18 Misses $0.29 Estimate, Sales $546.10M Miss $692.92M Estimate
Portfolio Pulse from vinayak@benzinga.com
Algoma Steel Gr (NASDAQ:ASTL) reported Q2 2024 earnings of $0.18 per share, missing the analyst consensus estimate of $0.29 by 37.93%. This is a 35.71% decrease from the same period last year. The company also reported quarterly sales of $546.10 million, missing the analyst consensus estimate of $692.92 million by 21.19%. However, this is an 18.88% increase from the same period last year.
November 02, 2023 | 9:35 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Algoma Steel Gr's Q2 2024 earnings and sales missed estimates, with a significant decrease in earnings YoY. This could negatively impact the company's stock in the short term.
Algoma Steel Gr's earnings and sales missed estimates, which is typically seen as a negative signal by investors. Additionally, the significant decrease in earnings YoY could further dampen investor sentiment, potentially leading to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100