Innospec Q3 Adj $1.59 Beats $1.45 Estimate, Sales $464.10M Miss $481.17M Estimate
Portfolio Pulse from Benzinga Newsdesk
Innospec (NASDAQ:IOSP) reported Q3 earnings of $1.59 per share, beating the analyst consensus estimate of $1.45 by 9.66%. However, the company's quarterly sales of $464.10 million missed the analyst consensus estimate of $481.17 million by 3.55%. This represents a 9.53% decrease over sales of $513.00 million from the same period last year.
November 07, 2023 | 10:52 pm
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NEUTRAL IMPACT
Innospec's Q3 earnings beat estimates but sales fell short, which could have mixed effects on the stock.
Innospec's earnings beat could boost investor confidence and potentially drive the stock price up. However, the sales miss could offset this positive impact, leading to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100