Fortress Biotech Q1 2024 GAAP EPS $(1.03) Beats $(1.73) Estimate, Sales $13.030M Miss $14.131M Estimate
Portfolio Pulse from Benzinga Newsdesk
Fortress Biotech (NASDAQ:FBIO) reported Q1 2024 GAAP EPS of $(1.03), beating the analyst estimate of $(1.73) by 40.46%. However, sales of $13.030M missed the $14.131M estimate by 7.79%, though it represents a 4.84% increase from the same period last year.
May 15, 2024 | 8:53 pm
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NEUTRAL IMPACT
Fortress Biotech's Q1 2024 GAAP EPS of $(1.03) beat expectations by 40.46%, but sales of $13.030M missed estimates by 7.79%. Sales increased by 4.84% YoY.
The earnings beat is a positive sign, but the sales miss and the relatively small YoY sales increase may neutralize the impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100