Harmony Biosciences Q1 2024 Adj EPS $0.88 Beats $0.62 Estimate, Sales $154.615M Miss $154.796M Estimate
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences (NASDAQ:HRMY) reported Q1 2024 adjusted EPS of $0.88, surpassing the $0.62 estimate, marking a 31.34% increase from the previous year. However, their sales of $154.615M slightly missed the $154.796M estimate, yet represented a 29.79% increase year-over-year.
April 30, 2024 | 11:08 am
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POSITIVE IMPACT
Harmony Biosciences exceeded Q1 2024 EPS estimates but slightly missed sales forecasts, showing strong year-over-year growth in both metrics.
Beating EPS estimates significantly while only narrowly missing sales forecasts indicates strong operational performance and efficiency. The substantial year-over-year growth in both earnings and sales suggests a positive trajectory for HRMY, likely leading to a positive short-term impact on its stock price. Investors typically respond well to earnings beats, which can drive stock prices up, although the slight miss on sales forecasts may temper some of the positive momentum.
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