Enovix Sees Q4 Adj EPS $(0.21)-(0.15) vs $(0.20) Est; Sees Sales $8.000M-10.000M vs $7.38M Est.
Portfolio Pulse from Benzinga Newsdesk
Enovix (NASDAQ:ENVX) has provided guidance for Q4 with an adjusted EPS range of $(0.21)-(0.15), slightly below the analyst estimate of $(0.20). However, the company expects sales between $8 million and $10 million, surpassing the analyst estimate of $7.38 million.
October 29, 2024 | 8:28 pm
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Enovix's Q4 guidance shows a potential EPS miss but a significant sales beat, indicating strong revenue performance despite earnings pressure.
The guidance indicates that while Enovix may miss EPS expectations, the sales forecast significantly exceeds estimates, suggesting strong revenue growth. This could positively impact the stock price as investors may focus on the sales beat.
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