Cango Q1 Adj EPADS $0.12 Up From $0.08 YoY, Sales $8.92M Down From $79.01M YoY
Portfolio Pulse from Benzinga Newsdesk
Cango (NYSE:CANG) reported Q1 adjusted earnings per ADS of $0.12, a 50% increase from $0.08 YoY. However, sales plummeted by 88.74% to $8.92 million from $79.01 million YoY.
June 12, 2024 | 9:32 pm
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NEUTRAL IMPACT
Cango reported a significant increase in Q1 adjusted earnings per ADS to $0.12, up 50% YoY. However, sales saw a drastic decline of 88.74% to $8.92 million. This mixed performance may lead to volatility in the stock price.
The significant increase in earnings per ADS is a positive indicator, but the drastic decline in sales is a major concern. This mixed performance could lead to short-term volatility as investors weigh the positive earnings against the negative sales trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100