Symbotic Inc reports results for the quarter ended in June - Earnings Summary

Symbotic

29/07/2024 22:21

* Symbotic Inc  SYM.OQ  reported a quarterly adjusted loss
of 2
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -7
cents.  The mean expectation of fourteen analysts for the
quarter was for earnings of 3 cents per share. Wall Street
expected results to range from zero cents to 7 cents per share.
    * Revenue rose 57.7% to $491.86 million from a year ago;
analysts
expected $464.55 million. 
    * Symbotic Inc's reported EPS for the quarter was a loss
of 2
cents​.
    * The company reported a quarterly loss of $2.49 million.
    * Symbotic Inc shares had risen by 10.4% this quarter and
lost 24.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 669.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the industrial
machinery & equipment peer group is also "buy"

Wall Street's median 12-month price target for Symbotic Inc is
$55.00 
This summary was machine generated from LSEG data July 29 at
09:21 p.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
 Jun. 30 2024      0.03           -0.02          Missed
 Mar. 31 2024      -0.04          -0.05          Missed
 Dec. 31 2023      -0.06          -0.02          Beat
 Sep. 30 2023      -0.12          -0.08          Beat