Ubiquiti Inc reports results for the quarter ended in September - Earnings Summary

Ubiquiti

03/11/2023 13:18

* Ubiquiti Inc  UI.N  reported quarterly adjusted earnings
of
$1.47​​ per share for the quarter ended in September, lower than
the same quarter last year, when the company reported EPS of
$1.55.  The mean expectation of two analysts for the quarter was
for earnings of $1.90 per share. 
    * Revenue fell 7% to $463.08 million from a year ago;
analysts
expected $547.87 million. 
    * Ubiquiti Inc's reported EPS for the quarter was $1.45​.
    * The company reported quarterly net income of $87.75
million.
    * Ubiquiti Inc shares had fallen by 14.2% this quarter and
lost 54.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.8%
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 1 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "hold"

Wall Street's median 12-month price target for Ubiquiti Inc is
$300.00 
This summary was machine generated from LSEG data November 3 at
01:18 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      1.90           1.47           Missed
 Jun. 30 2023      1.80           1.73           Missed
 Mar. 31 2023      1.96           0.65           Missed
 Dec. 31 2022      1.29           1.87           Beat