Suburban Propane Partners Q1 EPS $0.38 Misses $0.63 Estimate, Sales $365.83M Beat $365.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Suburban Propane Partners (NYSE:SPH) reported Q1 earnings of $0.38 per share, missing the consensus estimate of $0.63 by 39.68%, and a 46.48% decrease from last year's $0.71. Sales were $365.83M, slightly above the $365M estimate but 7.96% lower than the previous year's $397.47M.
February 08, 2024 | 12:33 pm
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Suburban Propane Partners reported lower than expected Q1 earnings at $0.38 per share, missing estimates by 39.68%, with a significant year-over-year decrease. However, sales slightly exceeded expectations.
The significant miss in earnings per share (EPS) compared to analyst expectations and the year-over-year decrease in both earnings and sales are likely to negatively impact investor sentiment and the stock price in the short term. Although sales exceeded estimates, the marginal beat may not be sufficient to offset the negative impact of the earnings miss.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100