Procaps Gr Q3 EPS $0.08 Beats $0.05 Estimate, Sales $118.41M Beat $110.40M Estimate
Portfolio Pulse from Benzinga Newsdesk
Procaps Group (PROC) exceeded Q3 earnings and sales estimates with EPS at $0.08, beating the $0.05 forecast, and sales reaching $118.41M, surpassing the $110.40M estimate. However, this EPS represents a 63.64% decrease from the same quarter last year, while sales saw a 7.25% increase from the previous year.
December 26, 2023 | 10:31 pm
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NEUTRAL IMPACT
Procaps Group reported strong Q3 results with EPS and sales beating estimates, but a significant decrease in EPS compared to last year's same quarter.
While Procaps Group beat estimates for both earnings and sales, the substantial year-over-year decrease in EPS may concern investors about the company's profitability trends. The mixed results could lead to a neutral short-term impact on the stock price as positive sales growth may offset concerns over the earnings decrease.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100