Eltek Q3 EPS $0.36 Beats $0.31 Estimate, Sales $11.86M Miss $11.90M Estimate
Portfolio Pulse from Benzinga Newsdesk
Eltek (NASDAQ:ELTK) reported Q3 earnings of $0.36 per share, surpassing the consensus estimate of $0.31, a 111.76% increase from the previous year. However, sales of $11.86M fell slightly short of the $11.90M estimate, though they were up 14.85% from the previous year.
November 16, 2023 | 12:19 pm
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NEUTRAL IMPACT
Eltek's Q3 EPS outperformed estimates, indicating strong profitability, but sales slightly missed expectations. Year-over-year growth in both metrics is evident.
The positive earnings surprise could lead to a short-term positive sentiment, but the slight miss on sales may temper investor enthusiasm. The significant year-over-year growth in earnings and sales suggests a strong underlying business performance, which may support the stock price. However, the mixed results could lead to neutral short-term price movement as the market digests both the beat on earnings and the slight miss on sales.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100