OmniAb Q1 2024 GAAP EPS $(0.19) Misses $(0.16) Estimate, Sales $3.801M Miss $5.868M Estimate
Portfolio Pulse from Benzinga Newsdesk
OmniAb (NASDAQ:OABI) reported Q1 2024 GAAP EPS of $(0.19), missing the $(0.16) estimate, with sales of $3.801M also missing the $5.868M estimate. This represents a significant decrease in performance compared to the same period last year.
May 09, 2024 | 8:27 pm
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NEGATIVE IMPACT
OmniAb reported a significant miss in both EPS and sales for Q1 2024, indicating a substantial decrease in performance from the previous year.
The significant miss in both earnings per share and sales compared to analyst estimates, coupled with the substantial decrease from the previous year's figures, is likely to negatively impact investor sentiment and the stock price of OmniAb in the short term. The magnitude of the miss and the comparison to last year's performance highlight underlying challenges the company may be facing, which could lead to decreased investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100