Recap: American Vanguard Q3 Earnings
Portfolio Pulse from Benzinga Insights
American Vanguard (NYSE:AVD) reported its Q3 earnings, missing estimated earnings by 107.14% with an EPS of $-0.01 versus an estimate of $0.14. Revenue was down $2.60 million from the same period last year. Last quarter, the company also missed on EPS by $0.36, which was followed by a 16.36% drop in the share price the next day.
November 08, 2023 | 9:25 pm
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NEGATIVE IMPACT
American Vanguard's Q3 earnings were significantly below estimates, which could negatively impact the company's stock price in the short term.
American Vanguard's significant miss on estimated earnings and decrease in revenue from the same period last year could lead to a decrease in investor confidence and a subsequent drop in the company's stock price. This is further supported by the company's past performance, where a miss on EPS in the previous quarter led to a 16.36% drop in the share price the next day.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100