IT Tech Packaging Q3 EPS $(0.20) Down From $(0.03) YoY, Sales $15.77M Down From $31.71M YoY
Portfolio Pulse from Benzinga Newsdesk
IT Tech Packaging (AMEX:ITP) reported a significant decrease in Q3 earnings and sales YoY. The company's losses increased by 566.67% to $(0.20) per share, compared to $(0.03) per share last year. Sales also dropped by 50.26% to $15.77 million from $31.71 million in the same period last year.
November 09, 2023 | 8:42 pm
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IT Tech Packaging's Q3 earnings report shows a significant increase in losses and a decrease in sales YoY, which could negatively impact the company's stock price in the short term.
The significant increase in losses and decrease in sales YoY indicates a poor financial performance by IT Tech Packaging. This could lead to a decrease in investor confidence, potentially driving the company's stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100