EuroDry Q2 2024 Adj. EPS $(0.17) Misses $0.52 Estimate, Sales $17.437M Miss $18.145M Estimate
Portfolio Pulse from Benzinga Newsdesk
EuroDry (NASDAQ:EDRY) reported Q2 2024 adjusted EPS of $(0.17), missing the analyst estimate of $0.52 by 132.69%. Sales were $17.437M, missing the $18.145M estimate by 3.90%. Despite the misses, EPS improved by 64.58% and sales increased by 68.60% year-over-year.
August 08, 2024 | 12:31 pm
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NEGATIVE IMPACT
EuroDry reported Q2 2024 adjusted EPS of $(0.17), missing the analyst estimate of $0.52 by a significant margin. Sales also missed estimates, coming in at $17.437M versus the expected $18.145M. Despite these misses, the company showed year-over-year improvements in both EPS and sales.
The significant miss on both EPS and sales estimates is likely to negatively impact the stock price in the short term. However, the year-over-year improvements in EPS and sales may provide some support, mitigating the downside to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100