Ascent Industries Q4 2023 GAAP EPS $(0.73), Sales $41.216M Miss $63.500M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ascent Industries reported a Q4 2023 GAAP EPS of $(0.73) and sales of $41.216M, missing the analyst consensus estimate of $63.500M by 35.09%. This represents a 23.93% decrease in sales compared to the same period last year.
March 28, 2024 | 8:22 pm
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Ascending
NEGATIVE IMPACT
Ascent Industries reported a significant miss in both EPS and sales for Q4 2023, with a 35.09% miss on sales estimates and a 23.93% decrease in sales YOY.
The significant miss in both earnings per share and sales compared to analyst estimates, along with a notable year-over-year decrease in sales, is likely to negatively impact investor sentiment and the stock price of Ascent Industries in the short term. The magnitude of the miss and the comparison to last year's performance highlight underlying issues that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100