Grindrod Shipping Hldgs Q3 Adj $(0.33) Misses $(0.21) Estimate, Sales $112.46M Beat $47.88M Estimate
Portfolio Pulse from Benzinga Newsdesk
Grindrod Shipping Holdings (NASDAQ:GRIN) reported a Q3 adjusted loss of $(0.33) per share, missing the $(0.21) estimate by 57.14%, and a 123.57% decrease from $1.40 EPS last year. Sales were $112.46M, surpassing the $47.88M estimate by 134.88%, and marking a 4.89% increase from $107.22M in the same period last year.
November 28, 2023 | 9:10 pm
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Grindrod Shipping Holdings reported a significant earnings miss but exceeded sales estimates in Q3, with a notable year-over-year decline in EPS.
The larger-than-expected loss per share is likely to negatively impact investor sentiment in the short term, despite the sales beat. The substantial decrease in EPS compared to the previous year further exacerbates concerns, potentially leading to a short-term decline in GRIN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100