ToughBuilt Industries Q3 EPS $(0.27) Beats $(0.46) Estimate, Sales $20.60M Miss $29.90M Estimate
Portfolio Pulse from Benzinga Newsdesk
ToughBuilt Industries (NASDAQ:TBLT) reported Q3 earnings per share (EPS) of $(0.27), surpassing the $(0.46) estimate, a 41.3% beat. However, the company experienced a significant decrease in earnings compared to the $0.05 per share from the same quarter last year, marking a 640% decline. ToughBuilt's quarterly sales were $20.60 million, falling short of the $29.90 million estimate by 31.10% and representing a 31.79% decrease from the $30.20 million sales in the same period last year.
November 14, 2023 | 9:40 pm
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NEGATIVE IMPACT
ToughBuilt Industries reported better-than-expected Q3 EPS but missed on sales, with significant declines from the same period last year.
While the EPS beat may provide some positive sentiment, the substantial year-over-year decline in both earnings and sales is likely to concern investors, potentially leading to a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100