Edible Garden AG Q1 2024 GAAP EPS $(13.65) Misses $(7.60) Estimate, Sales $3.132M Miss $3.204M Estimate
Portfolio Pulse from Benzinga Newsdesk
Edible Garden AG (NASDAQ:EDBL) reported Q1 2024 GAAP EPS of $(13.65), missing the $(7.60) estimate by 79.61%. Sales were $3.132M, missing the $3.204M estimate by 2.25%. Despite the misses, losses improved by 69.11% YoY and sales increased by 27.58% YoY.
May 15, 2024 | 11:09 am
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Edible Garden AG reported a significant miss on both EPS and sales estimates for Q1 2024. The EPS of $(13.65) was far below the $(7.60) estimate, and sales of $3.132M missed the $3.204M estimate. However, the company showed improvement in reducing losses by 69.11% YoY and increasing sales by 27.58% YoY.
The significant miss on both EPS and sales estimates is likely to negatively impact the stock price in the short term. However, the YoY improvement in reducing losses and increasing sales may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100