Legend Biotech Q3 EPS $(0.17) May Not Be Comparable To $(0.65) Estimate, Sales $96.01M Miss $97.28M Estimate
Portfolio Pulse from Benzinga Newsdesk
Legend Biotech (NASDAQ:LEGN) reported Q3 earnings with a loss of $0.17 per share, surpassing the consensus estimate of a $0.65 loss by 73.85%. Year-over-year, this represents a 34.62% improvement from a $0.26 loss per share. However, Q3 sales of $96.01M fell short of the $97.28M estimate by 1.31%, despite a significant 250.91% increase from the previous year's $27.36M.
November 20, 2023 | 11:03 am
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POSITIVE IMPACT
Legend Biotech reported better-than-expected Q3 EPS but missed revenue estimates. The EPS outperformance and significant year-over-year sales growth may positively influence investor sentiment.
The positive earnings surprise with a 73.85% beat on the EPS estimate is likely to be viewed favorably by investors, potentially leading to a short-term uptick in LEGN's stock price. However, the slight revenue miss may temper some of the enthusiasm, but the substantial year-over-year sales growth could outweigh the negative impact of the revenue miss.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100