Cricut Inc reports results for the quarter ended in March - Earnings Summary

Cricut

08/05/2024 07:41

* Cricut Inc  CRCT.OQ  reported quarterly adjusted earnings
of 9
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 4
cents.  The mean expectation of four analysts for the quarter
was for earnings of 6 cents per share. Wall Street expected
results to range from 4 cents to 7 cents per share.
    * Revenue fell 7.6% to $167.39 million from a year ago;
analysts
expected $173.71 million. 
    * Cricut Inc's reported EPS for the quarter was 9 cents​.
    * The company reported quarterly net income of $19.65
million.
    * Cricut Inc shares had risen by 16.2% this quarter and
lost 16.1%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 8.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the integrated
hardware
& software peer group is  "sell."

Wall Street's median 12-month price target for Cricut Inc is
$5.03 
This summary was machine generated from LSEG data May 8 at 06:41
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.06           0.09           Beat
 Dec. 31 2023      0.05           0.05           Met
 Sep. 30 2023      0.07           0.08           Beat
 Jun. 30 2023      0.06           0.07           Beat