Gorman-Rupp Q1 Adj $0.30 Misses $0.34 Estimate, Sales $159.27M Miss $168.24M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gorman-Rupp reported Q1 adjusted earnings of $0.30 per share, missing the $0.34 estimate, and sales of $159.27M, below the $168.24M estimate. This represents an 11.11% increase in earnings but a 0.75% decrease in sales from the same period last year.
April 25, 2024 | 10:35 am
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NEGATIVE IMPACT
Gorman-Rupp missed Q1 earnings and sales estimates, with a slight increase in earnings but a decrease in sales compared to last year.
Missing both earnings and sales estimates typically leads to negative investor sentiment in the short term, potentially causing a decrease in stock price. The slight increase in earnings YOY may not be enough to offset the negative impact of missing estimates.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100