Eastside Distilling Q3 2023 EPS $(2.00) Misses $(1.26) Estimate, Sales $3.08M Beat $3.03M Estimate
Portfolio Pulse from vinayak@benzinga.com
Eastside Distilling (NASDAQ:EAST) reported a Q3 2023 EPS loss of $(2.00), missing the $(1.26) estimate by 58.73%, but sales of $3.08M exceeded the $3.03M estimate by 1.68%. The EPS loss improved by 44.44% from the same period last year, and sales saw a slight increase of 0.55% from the previous year.
November 14, 2023 | 9:45 pm
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NEGATIVE IMPACT
Eastside Distilling's Q3 EPS loss was significantly worse than expected, but sales slightly exceeded estimates. Year-over-year improvement in losses and a small increase in sales were reported.
The significant miss in EPS is likely to negatively impact investor sentiment in the short term, despite the marginal sales beat. The improvement in losses compared to last year may not be enough to offset the negative reaction to the earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100