Shares of Symbotic (SYM -23.52%), which makes artificial intelligence (AI)-enabled robotics technology for supply chains, plunged 23.5% on Tuesday, following the company's release on the prior afternoon of its report for the third quarter of fiscal 2024 (ended June 29). Another contributing factor was likely fiscal Q3's earnings missing the analyst-consensus estimate. On the positive side, the quarter's revenue sped by Wall Street's expectation. | --- | --- | --- | --- | |-------------------------------|--- ...

Shares of Symbotic (NASDAQ:SYM) are taking a tumble after the artificial intelligence (AI) robotics company reported its earnings. As of this writing, SYM stock is down about 25%. "Looking ahead, improving our deployment process may temporarily slow our revenue growth," said CFO Carol Hibbard. "However, we expect system costs to decline and gross margin to return to historical levels during our fourth fiscal quarter." These numbers were solid, although a stock's price is based on discounted future cash flow ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 reached $492 million, representing a 58% increase compared to the same quarter last year [12] - The backlog of committed contracted orders remained consistent at $22.8 billion, offsetting revenue recognized during the quarter [13] - Cash from operating activities generated was $50 million, while cash and equivalents declined to $870 million due to investments in GreenBox [21][22] Business Line Data and Key Metrics Changes - The company started five new system deployments and completed three systems, bringing the total to 21 fully operational systems [12] - System gross margin fell below expectations due to elongated construction schedules and higher labor costs [13][18] Market Data and Key Metrics Changes - The company is focusing on improving planning, speed of implementation, and project management to enhance business performance [13] - The company is experiencing strong demand for its systems, as indicated by the consistent backlog [15] Company Strategy and Development Direction - The company plans to reabsorb a portion of construction management processes to reduce costs and improve focus on implementation [10] - The company is investing in a new minibot and has begun deployment of the first Symbiotic system for GreenBox, indicating a focus on innovation and expansion [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the current challenges are temporary and are focused on returning to higher system gross margins and faster growth [11][22] - The company expects revenue for Q4 2024 to be between $455 million and $475 million, with adjusted EBITDA between $28 million and $32 million [22] Other Important Information - The company is enhancing its supply chain team and has hired talent to improve project management and execution [27] - Management emphasized the importance of maintaining customer satisfaction while managing costs effectively [27] Q&A Session Summary Question: What happened with system gross margin and why will it rebound in Q4? - Management explained that delays in construction and higher costs impacted margins, but they expect improvements as they bring some functions in-house [18][30] Question: How do you interpret the commentary on accelerating deployments and revenue growth? - Management clarified that while they expect to ramp up system starts, Q4 will be the lowest year-over-year revenue growth due to previous low system starts [32][34] Question: What is the visibility into future deployments and potential delays? - Management indicated that they have good visibility once permits are issued, but construction delays could impact future phases [145][150] Question: How is the company managing costs and what is the outlook for margins? - Management stated that they are focused on prudent expense management and expect to return to historical gross margins in Q4 [111][117] Question: What is the interest level for GreenBox and the types of firms involved? - Management noted that they are receiving interest from medium and large regional firms, indicating a growing pipeline for GreenBox [151]

Symbotic Inc. (SYM) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of $0.02. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items. SYMBOTIC INC, which belongs to the Zacks Technology Services industry, posted revenues of $491.86 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 6.29%. This compares to year-ago revenues of $311.84 million. The company has topped consensus revenue estima ...

"Symbotic continues to innovate. During the quarter, we extended the future capabilities of SymBot by incorporating an enhanced sensor array and we advanced development of our new minibot for BreakPack," said Rick Cohen, Chairman and Chief Executive Officer of Symbotic. "Our teams continue to focus on execution of the 39 systems we have in deployment, which is reflected in our record revenue for the quarter. Our system gross margin fell below expectations due to elongated construction schedules and implemen ...

Symbotic (SYM 2.54%), a producer of artificial intelligence-powered warehouse automation robots, went public by merging with a special purpose acquisition company (SPAC) two years ago. Its stock has gone through some wild swings, but it has still nearly quadrupled from its opening price of $10.54 to about $40 as of this writing. So could Serve Robotics (SERV 8.99%), a much smaller robotics specialist with a market cap of $350 million, have a shot at replicating Symbotic's impressive gains over the next few ...

Let us check out how SYM has lately been doing. The stock has gained 23.9% over the past month, outperforming the 3.6% rally of the industry it belongs to and the 2.1% rise of the Zacks S&P 500 composite. Improved Q2 Sales & Margin Performance Strong Liquidity The consensus estimate for third-quarter fiscal 2024 revenues and earnings implies year-over-year growth of 48.4% and more than 100%, respectively. Symbiotic, Inc. (SYM) will report its third-quarter fiscal 2024 results on Jul 29, after market close. ...

Symbotic Inc. (SYM) is an automation technology company that focuses on improving operating efficiencies in modern warehouses. The company plans to announce its earnings on July 29, 2024. Leave this field empty if you're human: Higher still is the 200-day moving average at around 42.47. Even more compelling is that the Leadership illustrates clearly SYM outperforms the S&P 500. Here are some key points about Symbotic: I personally like this company because it transcends politics and with both parties in fav ...

Market participants will be closely following the financial results of Symbotic Inc. in its upcoming release. The company plans to announce its earnings on July 29, 2024. The company's upcoming EPS is projected at $0, signifying a 100% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $462.77 million, up 48.4% from the prior-year quarter. Research indicates that these estimate revisions are directly correlated with near-term share ...

Over the past month, shares of this company have returned +15%, compared to the Zacks S&P 500 composite's +2.1% change. During this period, the Zacks Technology Services industry, which SYMBOTIC INC falls in, has gained 2.4%. The key question now is: What could be the stock's future direction? Earnings Estimate Revisions Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates ...