Envela Q2 2024 GAAP EPS $0.06 Beats $0.05 Estimate, Sales $45.300M Beat $36.510M Estimate
Portfolio Pulse from Benzinga Newsdesk
Envela (AMEX:ELA) reported Q2 2024 earnings per share of $0.06, beating the analyst estimate of $0.05 by 20%. The company also reported sales of $45.3 million, surpassing the $36.51 million estimate by 24.08%, despite a 9.95% decrease from the same period last year.
August 07, 2024 | 9:16 pm
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Envela (AMEX:ELA) reported Q2 2024 earnings per share of $0.06, beating the analyst estimate of $0.05 by 20%. The company also reported sales of $45.3 million, surpassing the $36.51 million estimate by 24.08%, despite a 9.95% decrease from the same period last year.
Envela's better-than-expected earnings and sales figures are likely to positively impact its stock price in the short term, despite the year-over-year sales decline. Beating both EPS and sales estimates by significant margins typically boosts investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100