ToughBuilt Industries Q3 2023 EPS $(0.27) Beats $(0.46) Estimate, Sales $20.60M Miss $29.90M Estimate
Portfolio Pulse from vinayak@benzinga.com
ToughBuilt Industries (NASDAQ:TBLT) reported Q3 2023 earnings per share (EPS) of $(0.27), surpassing the $(0.46) estimate, marking 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, representing a 640% decline. ToughBuilt's quarterly sales were $20.60 million, falling short of the $29.90 million estimate by 31.10% and showing a 31.79% decrease from the $30.20 million sales in the same period last year.
November 14, 2023 | 10:11 pm
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ToughBuilt Industries reported better-than-expected Q3 2023 EPS but missed sales estimates, with significant declines in both earnings and sales compared to last year.
While the EPS beat may provide a short-term positive sentiment, the substantial miss on sales and the stark year-over-year decline in both earnings and sales are likely to weigh more heavily on investor sentiment. This could lead to a negative short-term impact on TBLT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100