Richardson Electronics Ltd reports results for the quarter ended in May - Earnings Summary

Richardson Electronics

25/07/2024 01:53

* Richardson Electronics Ltd  RELL.OQ  reported a quarterly
adjusted loss of 1 cent​​ per share for the quarter ended in
May, lower than the same quarter last year, when the company
reported EPS of 27 cents.  The mean expectation of two analysts
for the quarter was for a loss of 4 cents per share. Wall Street
expected results to range from -12 cents to 3 cents per share.
    * Revenue fell 19.5% to $47.37 million from a year ago;
analysts
expected $48.01 million. 
    * Richardson Electronics Ltd's reported EPS for the quarter
was a
loss of 1 cent​.
    * The company reported a quarterly loss of $119 thousand.
    * Richardson Electronics Ltd shares had fallen by 3.3% this
quarter and lost 13.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 164.3% in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Richardson
Electronics Ltd is $13.00 
This summary was machine generated from LSEG data July 25 at
12:53 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
 May. 31 2024      -0.04          -0.01          Beat
 Feb. 29 2024      0.02           0.05           Beat
 Nov. 30 2023      0.01           -0.13          Missed
 Aug. 31 2023      0.03           0.09           Beat