Steel Connect Q3 Sales $43.85M Down From $46.14M YoY; Exits Quarter With Cash And Equivalents Worth $269.2M
Portfolio Pulse from Benzinga Newsdesk
Steel Connect (NASDAQ:STCN) reported Q3 sales of $43.85M, down from $46.14M YoY, and quarterly earnings of $2.51 per share. The company exits the quarter with $269.2M in cash and equivalents.
June 06, 2024 | 11:52 am
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Steel Connect reported a decrease in Q3 sales to $43.85M from $46.14M YoY, but achieved earnings of $2.51 per share. The company has $269.2M in cash and equivalents.
While the decrease in sales might be seen negatively, the strong earnings per share and substantial cash reserves could offset the impact, leading to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100