Energous Q1 2024 Adj EPS $(1.11) Misses $(0.78) Estimate, Sales $64.00K Miss $146.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
Energous (WATT) reported Q1 2024 adjusted EPS of $(1.11), missing the $(0.78) estimate, with sales of $64.00K also missing the $146.00K estimate. This represents a 33.80% decrease in sales compared to the same period last year.
May 14, 2024 | 8:39 pm
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NEGATIVE IMPACT
Energous reported significantly lower than expected Q1 2024 earnings and sales, missing estimates by 42.31% and 56.16% respectively, with a notable year-over-year sales decrease of 33.80%.
The substantial miss in both earnings and sales estimates for Energous indicates potential operational and market challenges. The significant year-over-year decrease in sales further exacerbates concerns, likely leading to negative investor sentiment and potential short-term price pressure.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100