Varex Imaging Q1 Adj $0.06 Misses $0.11 Estimate, Sales $190.00M Beat $187.97M Estimate
Portfolio Pulse from Benzinga Newsdesk
Varex Imaging (NASDAQ:VREX) reported Q1 adjusted earnings of $0.06 per share, missing the $0.11 estimate, and sales of $190.00M, beating the $187.97M estimate. Earnings decreased by 71.43% and sales by 7.59% compared to last year.
February 06, 2024 | 9:19 pm
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NEGATIVE IMPACT
Varex Imaging reported lower than expected Q1 earnings at $0.06 per share, missing estimates by 45.45%, but surpassed sales estimates with $190M. Earnings and sales saw a year-over-year decline.
The miss in earnings per share (EPS) expectations by a significant margin of 45.45% and the year-over-year decrease in both earnings and sales by 71.43% and 7.59% respectively, are likely to negatively impact investor sentiment and the stock price in the short term. Although the sales beat might offer some positive outlook, the substantial earnings miss and decline from the previous year overshadow this aspect.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100