Why Real Good Foods' Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
The Real Good Food Company, Inc. (NASDAQ:RGF) reported a 48% year-on-year increase in Q3 FY23 sales, surpassing consensus estimates. Gross profit rose significantly, but EPS loss was greater than expected. The company saw increased household penetration and provided an optimistic outlook for Q4 and FY23 revenues, as well as preliminary FY24 guidance. RGF shares rose by 2.96% to $1.74.
November 10, 2023 | 4:52 pm
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Real Good Food Co. reported strong Q3 sales growth and an optimistic revenue outlook, but a wider EPS loss than expected. Shares increased by 2.96%.
The positive sales growth and optimistic revenue outlook for Q4 and FY24 are likely to be viewed favorably by investors, despite the wider EPS loss. The immediate positive reaction in share price suggests a short-term bullish sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100