Grove Collaborative Hldgs Q1 EPS $(0.10) Beats $(0.16) Estimate, Sales $53.55M Miss $54.09M Estimate
Portfolio Pulse from Benzinga Newsdesk
Grove Collaborative Holdings (GROV) reported Q1 EPS of $(0.10), surpassing the $(0.16) estimate, marking a 37.5% beat and a significant improvement from last year's $(0.39) per share. However, Q1 sales of $53.55M fell short of the $54.09M estimate, a 1.01% miss and a 25.18% decrease from the previous year's $71.56M.
May 14, 2024 | 8:14 pm
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NEUTRAL IMPACT
Grove Collaborative Holdings reported a smaller than expected Q1 loss per share but missed on sales estimates, indicating mixed financial health.
The EPS beat suggests operational efficiency and cost management improvements, potentially positive for investor sentiment. However, the sales miss, especially with a significant year-over-year decrease, could raise concerns about growth prospects and market demand for GROV's products. The mixed results make the short-term impact neutral as positive earnings are offset by revenue concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100