Blue Foundry Q1 2024 GAAP EPS $(0.13) Beats $(0.21) Estimate, Sales $9.868M Beat $9.168M Estimate
Portfolio Pulse from Benzinga Newsdesk
Blue Foundry (NASDAQ:BLFY) reported Q1 2024 earnings with a GAAP EPS of $(0.13), surpassing the $(0.21) estimate. Sales reached $9.868M, exceeding the $9.168M forecast but marking a 20.58% decrease from the previous year.
April 24, 2024 | 12:20 pm
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POSITIVE IMPACT
Blue Foundry reported better-than-expected Q1 2024 earnings and sales, with a significant beat on EPS and a modest beat on sales estimates.
The positive earnings surprise, with EPS and sales both beating estimates, typically leads to a positive short-term reaction in the stock market. Despite the year-over-year decrease in sales, the beat on both top and bottom lines could boost investor confidence and potentially lead to a short-term uptick in BLFY's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100