Allegro Microsystems Q3 Adj EPS $0.32 Beats $0.29 Estimate, Sales $254.98M Miss $255.04M Estimate
Portfolio Pulse from Benzinga Newsdesk
Allegro Microsystems (NASDAQ:ALGM) reported Q3 adjusted EPS of $0.32, surpassing the $0.29 estimate, but its sales of $254.98M slightly missed the $255.04M estimate. Year-over-year, earnings decreased by 8.57% while sales increased by 2.49%.
February 01, 2024 | 12:01 pm
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Allegro Microsystems reported a mixed Q3 with an EPS beat and a slight sales miss. Earnings decreased YoY, while sales saw a modest increase.
The mixed results with an EPS beat but a slight miss on sales could lead to neutral market reaction. The decrease in earnings YoY might concern investors, but the increase in sales could offset negative sentiment.
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