ChampionX Q1 2024 Adj EPS $0.50 Beats $0.41 Estimate, Sales $922.141M Beat $921.080M Estimate
Portfolio Pulse from Benzinga Newsdesk
ChampionX reported Q1 2024 adjusted earnings of $0.50 per share, surpassing the consensus estimate of $0.41 by 21.95%. Sales reached $922.141M, slightly above the $921.080M estimate but represent a 2.76% decrease from the previous year.
April 24, 2024 | 9:03 pm
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POSITIVE IMPACT
ChampionX's Q1 2024 earnings and sales exceeded estimates, with a notable EPS beat and a slight sales beat, despite a year-over-year decrease in sales.
Beating both earnings and sales estimates typically has a positive impact on investor sentiment and stock price in the short term. The significant beat on the EPS estimate and the slight beat on sales, despite a year-over-year decrease, indicate operational efficiency and could lead to positive stock price movement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100