Universal Electronics Q1 2024 Adj EPS $(0.19) Beats $(0.24) Estimate, Sales $91.900M Beat $90.737M Estimate
Portfolio Pulse from Benzinga Newsdesk
Universal Electronics (NASDAQ:UEIC) reported Q1 2024 adjusted EPS of $(0.19), surpassing the $(0.24) estimate, with sales of $91.900M exceeding the $90.737M forecast. This represents a 20.83% beat on EPS estimates and a 1.28% beat on sales estimates, despite a 15.22% decrease in sales compared to the same period last year.

May 02, 2024 | 8:45 pm
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Universal Electronics reported a smaller loss per share and higher sales than expected for Q1 2024, indicating a positive performance against analyst expectations.
Beating both EPS and sales estimates typically indicates a company's operational efficiency and market demand for its products, which can positively influence investor sentiment and potentially lead to a short-term increase in stock price. The reported improvement over last year's losses and the sales beat, despite a year-on-year decrease, suggest resilience and could be viewed favorably by the market.
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