Avid Bioservices Q3 2024 GAAP EPS $(0.09) Misses $(0.05) Estimate, Sales $33.800M Beat $33.452M Estimate
Portfolio Pulse from Benzinga Newsdesk
Avid Bioservices reported Q3 2024 earnings with a GAAP EPS of $(0.09), missing the $(0.05) estimate, while sales of $33.800M exceeded the $33.452M forecast. This represents an 11.09% decrease in sales compared to the same period last year.

April 24, 2024 | 9:39 pm
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NEGATIVE IMPACT
Avid Bioservices' Q3 2024 earnings missed EPS estimates but beat sales forecasts, with a notable year-over-year sales decrease.
The miss on the EPS estimate is likely to negatively impact investor sentiment in the short term, despite the slight beat on sales forecasts. The significant year-over-year decrease in sales further compounds concerns about the company's growth trajectory, potentially leading to a negative short-term price movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100