ChampionX Q4 2023 Adj GAAP EPS $0.44, Inline, Sales $943.55M Miss $948.02M Estimate
Portfolio Pulse from Benzinga Newsdesk
ChampionX (NASDAQ:CHX) reported Q4 2023 earnings of $0.44 per share, meeting analyst estimates, but missed revenue expectations with $943.55M against a forecast of $948.02M, marking a 4.29% decrease from the previous year.
February 05, 2024 | 9:33 pm
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ChampionX reported Q4 2023 earnings per share of $0.44, aligning with estimates, but its revenue of $943.55M missed expectations by a slight margin and showed a 4.29% decrease from the previous year.
Meeting EPS estimates typically has a neutral to positive impact on stock price, as it shows the company is performing as expected. However, missing revenue forecasts and showing a year-over-year decrease could signal underlying issues, potentially offsetting any positive sentiment from meeting EPS estimates. The slight miss in revenue forecasts is not significantly negative but warrants caution.
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