AVITA Medical Q1 EPS $(0.73) Misses $(0.45) Estimate, Sales $11.10M Beat $11.05M Estimate
Portfolio Pulse from Benzinga Newsdesk
AVITA Medical (NASDAQ:RCEL) reported Q1 EPS of $(0.73), missing the $(0.45) estimate by 62.22%, and a 97.3% decrease from last year's $(0.37) per share. However, their Q1 sales of $11.10M slightly beat the $11.05M estimate, marking a 5.25% increase from the previous year.
May 13, 2024 | 8:02 pm
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NEGATIVE IMPACT
AVITA Medical's Q1 earnings missed estimates significantly, with EPS at $(0.73) vs. the $(0.45) estimate, a 97.3% decrease YOY. Sales slightly exceeded expectations at $11.10M, a 5.25% increase YOY.
The significant miss in EPS is likely to negatively impact investor sentiment and stock price in the short term, despite the slight beat in sales. The large decrease in EPS YOY and miss against estimates suggests operational challenges that could concern investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100