Kinetik Holdings Q1 2024 GAAP EPS $0.12 Misses $0.48 Estimate, Sales $341.394M Beat $277.518M Estimate
Portfolio Pulse from Benzinga Newsdesk
Kinetik Holdings (NASDAQ:KNTK) reported Q1 2024 earnings of $0.12 per share, missing the consensus estimate of $0.48 by 75%. However, their quarterly sales of $341.394M exceeded the estimate of $277.518M by 23.02%, marking a 21.48% increase from the previous year.
May 08, 2024 | 9:11 pm
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Kinetik Holdings reported lower-than-expected Q1 2024 EPS at $0.12, missing estimates by 75%, but surpassed sales forecasts with $341.394M, a 23.02% beat.
The significant miss in EPS could negatively impact investor sentiment and stock price in the short term. However, the substantial beat in sales forecasts may offset some of the negative sentiment, suggesting a neutral short-term impact on KNTK's stock price.
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