New Fortress Energy Q2 2024 Adj EPS $(0.41) Misses $0.07 Estimate, Sales $428.01M Miss $509.24M Estimate
Portfolio Pulse from Benzinga Newsdesk
New Fortress Energy (NASDAQ:NFE) reported a significant miss in its Q2 2024 earnings and sales. The company posted an adjusted EPS of $(0.41), missing the $0.07 estimate by 685.71%, and sales of $428.01 million, missing the $509.24 million estimate by 15.95%. This represents a 23.75% decrease in sales compared to the same period last year.
August 09, 2024 | 11:03 am
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NEGATIVE IMPACT
New Fortress Energy reported a significant miss in both earnings and sales for Q2 2024. The adjusted EPS of $(0.41) missed the $0.07 estimate by a wide margin, and sales of $428.01 million fell short of the $509.24 million estimate. This also marks a 23.75% decrease in sales compared to the same period last year.
The significant miss in both earnings and sales, along with a notable year-over-year decline in sales, is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100