EMCORE Q3 2024 Adj. EPS $(0.49) Misses $(0.17) Estimate, Sales $20.435M Beat $19.741M Estimate
Portfolio Pulse from Benzinga Newsdesk
EMCORE (NASDAQ:EMKR) reported Q3 2024 adjusted EPS of $(0.49), missing the $(0.17) estimate by 188.24%. However, sales of $20.435M beat the $19.741M estimate by 3.51%, though this is a 23.46% decrease from the same period last year.
August 06, 2024 | 8:51 pm
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NEGATIVE IMPACT
EMCORE's Q3 2024 adjusted EPS of $(0.49) missed the $(0.17) estimate by a significant margin, indicating worse-than-expected profitability. However, sales of $20.435M beat expectations, though they were down 23.46% YoY.
The significant miss on EPS suggests poor profitability, which is likely to negatively impact the stock price in the short term. Although sales beat expectations, the YoY decline of 23.46% adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100