Greenland Technologies Q3 EPS $(0.07) Misses $0.05 Estimate, Sales $21.84M Miss $24.26M Estimate
Portfolio Pulse from Benzinga Newsdesk
Greenland Technologies (NASDAQ:GTEC) reported Q3 losses of $(0.07) per share, significantly missing the $0.05 per share estimate. Sales were $21.84M, also below the expected $24.26M. Compared to last year, earnings decreased by 170%, while sales saw a marginal increase of 0.23%.
November 20, 2023 | 12:05 pm
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Greenland Technologies reported a significant miss in Q3 EPS and sales, with a 170% decrease in earnings from last year and sales that barely grew.
Missing both EPS and sales estimates usually leads to negative investor sentiment in the short term. The substantial miss in earnings and the slight increase in sales compared to last year could lead to a decrease in stock price as the market reacts to the company's underperformance.
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IMPORTANCE 90
RELEVANCE 100