Argan Q3 EPS $0.40 Misses $0.88 Estimate, Sales $163.78M Beat $162.70M Estimate
Portfolio Pulse from Benzinga Newsdesk
Argan, Inc. (NYSE:AGX) reported Q3 earnings of $0.40 per share, missing the consensus estimate of $0.88 by 54.55%. Year-over-year, earnings decreased by 28.57% from $0.56 per share. However, quarterly sales of $163.78M exceeded estimates by 0.66% and grew 38.94% from $117.88M in the same period last year.
December 06, 2023 | 9:21 pm
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Argan's Q3 EPS of $0.40 missed estimates by 54.55%, while sales of $163.78M slightly beat expectations and showed significant year-over-year growth.
The significant miss on earnings per share (EPS) is likely to negatively impact investor sentiment in the short term, despite the sales beat. Earnings are a key driver of stock price, and a miss of this magnitude can often lead to a decrease in stock price as it may signal underlying issues. However, the increase in sales suggests that the business is growing, which might offset some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100