Photronics Q1 Adj EPS $0.48 Misses $0.49 Estimate, Sales $216.33M Miss $220.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Photronics (NASDAQ:PLAB) reported Q1 adjusted EPS of $0.48, missing the consensus estimate of $0.49, and sales of $216.33M, missing the $220.00M estimate. This represents a 20% increase in earnings and a 2.48% increase in sales from the same period last year.
February 21, 2024 | 11:32 am
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Photronics reported a slight miss in Q1 adjusted EPS and sales against analyst estimates, with a 20% increase in earnings and a 2.48% increase in sales year-over-year.
Missing analyst estimates for both EPS and sales, even by small margins, can lead to negative investor sentiment in the short term. However, the year-over-year growth in both earnings and sales indicates underlying strength, which might mitigate the negative impact to some extent.
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