Faro Technologies Q1 2024 Adj EPS $0.09 Beats $(0.12) Estimate, Sales $84.244M Beat $81.070M Estimate
Portfolio Pulse from Benzinga Newsdesk
Faro Technologies (NASDAQ:FARO) reported Q1 2024 earnings of $0.09 per share, surpassing the $(0.12) estimate, marking a 175% beat and a 123.68% increase from last year's losses. Sales reached $84.244M, exceeding the $81.070M forecast by 3.92%, despite a slight 0.85% decrease from the previous year.
May 01, 2024 | 9:33 pm
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Faro Technologies reported a significant beat on both earnings and sales estimates for Q1 2024, with earnings of $0.09 per share and sales of $84.244M.
Faro Technologies' earnings and sales beat are significant indicators of the company's strong performance and operational efficiency. The substantial beat on the earnings estimate, turning around from last year's loss, and the sales beat, despite a slight year-over-year decrease, suggest a positive outlook for the company's financial health. This is likely to instill investor confidence and could lead to a short-term uptick in FARO's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100