Steel Connect Q1 EPS $0.15 Down From $0.59 YoY, Sales $41.34M Down From $51.36M YoY
Portfolio Pulse from Benzinga Newsdesk
Steel Connect (NASDAQ:STCN) reported a decrease in Q1 earnings to $0.15 per share from $0.59 YoY, with sales falling 19.51% to $41.34M from $51.36M YoY.
December 14, 2023 | 11:28 am
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Steel Connect reported a significant drop in Q1 EPS to $0.15 from $0.59 YoY and a 19.51% decrease in sales to $41.34M from $51.36M YoY.
The reported decrease in both earnings per share and sales is a strong negative signal for investors, indicating potential underlying issues with the company's performance. This is likely to lead to a negative short-term impact on the stock price as investors react to the disappointing financial results.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100