Recap: Varex Imaging Q1 Earnings
Portfolio Pulse from Benzinga Insights
Varex Imaging (NASDAQ:VREX) reported Q1 earnings with an EPS of $0.06, missing estimates by 45.45% against an expected $0.11. Revenue decreased by $15.60 million from the previous year. The company had previously beaten EPS estimates last quarter but experienced a 0.82% share price drop the following day.
February 06, 2024 | 9:20 pm
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Varex Imaging reported a significant miss in Q1 earnings with a 45.45% lower EPS than expected and a decrease in revenue compared to last year.
Missing earnings estimates by a significant margin typically leads to negative investor sentiment and can cause a short-term decrease in stock price. The historical context of a share price drop following last quarter's earnings beat despite surpassing EPS estimates suggests that the market may react negatively to this earnings miss.
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IMPORTANCE 90
RELEVANCE 100