Movado Group Q2 EPS $0.16 Misses $0.19 Estimate, Sales $159.31M Beat $150.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
Movado Group reported Q2 earnings per share of $0.16, missing the $0.19 estimate, but sales of $159.31M beat the $150.50M estimate. EPS decreased by 57.89% from last year, while sales slightly decreased by 0.67%.
September 05, 2024 | 10:48 am
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NEGATIVE IMPACT
Movado Group's Q2 earnings per share of $0.16 missed analyst estimates of $0.19, representing a significant 57.89% decrease from last year. However, sales of $159.31M exceeded expectations, though they were slightly down from the previous year.
The significant miss on EPS compared to estimates and the large year-over-year decrease in EPS are likely to negatively impact the stock price in the short term. Although sales beat estimates, the slight year-over-year decline in sales does not offset the negative impact of the earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100