Durect Q3 2023 Gaap EPS $(0.14) Beats $(0.42) Estimate, Sales $1.74M Miss $2.97M Estimate
Portfolio Pulse from saritha@benzinga.com
Durect Corporation (NASDAQ:DRRX) reported Q3 2023 earnings with a GAAP EPS of $(0.14), surpassing the $(0.42) estimate, marking a significant beat by 66.67%. However, the company experienced a decline in earnings compared to the previous year, with losses increasing by 40% from $(0.10) per share. Sales for the quarter were $1.74M, falling short of the $2.97M estimate by 41.28% and representing an 85.44% decrease from the $11.98M reported in the same period last year.
November 13, 2023 | 9:14 pm
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Durect Corporation reported better-than-expected Q3 EPS but missed revenue estimates with a significant year-over-year sales decline.
While the EPS beat may provide a short-term positive sentiment, the substantial miss in sales and the significant year-over-year decline could raise concerns about the company's revenue growth and overall financial stability. The mixed results may lead to neutral short-term impact as investors digest both the positive EPS and negative sales data.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100