Owlet Q1 2024 Adj EPS $(0.39) Misses $(0.14) Estimate, Sales $14.800M Miss $16.430M Estimate
Portfolio Pulse from Benzinga Newsdesk
Owlet (NYSE:OWLT) reported Q1 2024 adjusted EPS of $(0.39), missing the $(0.14) estimate, with sales of $14.800M also missing the $16.430M estimate. This represents a 38.32% increase over the same period last year.

May 06, 2024 | 8:13 pm
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Owlet reported a significant miss in both adjusted EPS and sales for Q1 2024, with adjusted EPS missing estimates by 178.57% and sales missing by 9.92%, despite a 38.32% increase in sales YOY.
The significant miss in both EPS and sales compared to analyst estimates is likely to negatively impact investor sentiment and the stock price of Owlet in the short term. The miss in EPS by 178.57% is particularly concerning, indicating operational challenges. However, the 38.32% increase in sales YOY might provide some cushion to the negative impact, but it's unlikely to offset the immediate negative reaction from the market.
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IMPORTANCE 90
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