Freight Technologies FY Sales $17.100M Miss $26.400M Estimate
Portfolio Pulse from Benzinga Newsdesk
Freight Technologies (NASDAQ:FRGT) reported FY sales of $17.100M, missing the consensus estimate of $26.400M by 35.23%, marking a 33.95% decrease from the previous year's $25.888M.
May 09, 2024 | 8:31 pm
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NEGATIVE IMPACT
Freight Technologies reported significantly lower FY sales than expected, missing estimates by over 35% and experiencing a sharp YOY decline.
Missing sales estimates by a large margin and reporting a significant year-over-year decline are both negative indicators for a company's financial health and operational performance. This is likely to lead to negative investor sentiment and could result in a decrease in stock price in the short term.
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