Sachem Cap Q1 2024 GAAP EPS $0.08 Misses $0.10 Estimate, Sales $17.200M Miss $17.375M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sachem Capital reported Q1 2024 earnings of $0.08 per share, missing the $0.10 estimate, and sales of $17.200M, below the $17.375M estimate. This represents a 20% decrease in EPS and a 16.94% increase in sales from the previous year.
May 10, 2024 | 11:01 am
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NEGATIVE IMPACT
Sachem Capital's Q1 2024 earnings and sales missed estimates, with a significant decrease in EPS from the previous year despite an increase in sales.
Missing both EPS and sales estimates typically leads to negative investor sentiment in the short term. The decrease in EPS year-over-year, despite higher sales, suggests profitability issues which could further concern investors. This combination is likely to put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100