Red Cat Holdings Q1 EPS $(0.17) Misses $(0.08) Estimate, Sales $2.78M Miss $3.85M Estimate
Portfolio Pulse from Benzinga Newsdesk
Red Cat Holdings reported a Q1 EPS of $(0.17), missing the $(0.08) estimate, and sales of $2.78M, missing the $3.85M estimate. Despite the misses, sales increased by 58.84% from the previous year.
September 23, 2024 | 8:03 pm
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NEGATIVE IMPACT
Red Cat Holdings reported worse-than-expected Q1 results with EPS of $(0.17) missing the $(0.08) estimate and sales of $2.78M missing the $3.85M estimate. Despite the misses, sales increased by 58.84% from the previous year.
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 sales growth of 58.84% may provide some positive sentiment, but the immediate reaction is expected to be negative due to the large miss on expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100