Stronghold Digital Mining Q2 2024 GAAP EPS $(1.25) Misses $(0.46) Estimate, Sales $19.104M Miss $20.150M Estimate
Portfolio Pulse from Benzinga Newsdesk
Stronghold Digital Mining (NASDAQ:SDIG) reported Q2 2024 GAAP EPS of $(1.25), missing the $(0.46) estimate by 171.74%. Sales were $19.104M, missing the $20.150M estimate by 5.19%, but up 4.77% from last year's $18.234M.
August 14, 2024 | 12:32 pm
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NEGATIVE IMPACT
Stronghold Digital Mining reported a significant earnings miss for Q2 2024, with GAAP EPS of $(1.25) falling short of the $(0.46) estimate by 171.74%. Sales also missed expectations, coming in at $19.104M versus the $20.150M estimate, though they were up 4.77% year-over-year.
The significant miss on both EPS and sales estimates is likely to negatively impact SDIG's stock price in the short term. Despite a year-over-year sales increase, the magnitude of the earnings miss will likely overshadow this positive aspect.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100