IM Cannabis Q4 EPS $(0.18) Misses $(0.17) Estimate, Sales $7.86M Miss $10.45M Estimate
Portfolio Pulse from Benzinga Newsdesk
IM Cannabis (NASDAQ:IMCC) reported Q4 losses of $(0.18) per share, missing the $(0.17) estimate, and sales of $7.86M, missing the $10.45M estimate. This represents an 81.05% improvement in losses and a 26.97% decrease in sales year-over-year.
March 28, 2024 | 1:19 pm
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NEGATIVE IMPACT
IM Cannabis reported a larger Q4 loss and lower sales than expected, missing both EPS and revenue estimates.
Missing both EPS and revenue estimates typically leads to negative investor sentiment in the short term, potentially causing a decrease in stock price. The improvement in losses year-over-year might offer some mitigation, but the significant miss on sales expectations and the decrease in sales compared to the previous year are likely to be viewed negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100