Edible Garden AG Q3 EPS $(0.69) Up From $(7.20) YoY, Sales $3.29M Beat $3.07M Estimate
Portfolio Pulse from bharat@benzinga.com
Edible Garden AG (NASDAQ:EDBL) reported a significant reduction in its quarterly losses to $(0.69) per share from $(7.20) per share year-over-year. Additionally, the company's quarterly sales of $3.29 million exceeded the analyst consensus estimate of $3.07 million by 7.13% and marked a 19.43% increase from the previous year's sales of $2.75 million.
November 13, 2023 | 12:02 pm
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POSITIVE IMPACT
Edible Garden AG reported a substantial improvement in Q3 earnings and surpassed sales estimates, indicating a positive trend in the company's financial performance.
The significant reduction in losses and the beat on sales estimates are likely to be viewed positively by investors, potentially leading to a short-term increase in EDBL's stock price. The improvement in financial performance suggests that the company is moving in the right direction, which could boost investor confidence.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100