E2open Parent Holdings, Inc. (ETWO) Misses Q1 Earnings and Revenue Estimates

Core Insights - E2open has outperformed the market with a 6.2% increase since the beginning of the year, contrasting with the S&P 500's decline of 87.9% [5] - The company's recent quarterly earnings of $0.04 per share missed the Zacks Consensus Estimate of$0.05 per share, representing a -20% earnings surprise [2] - E2open's revenues for the quarter ended May 2024 were $151.16 million, falling short of the Zacks Consensus Estimate by 2.78$160.12 million year-over-year [3] Earnings Performance - Over the last four quarters, E2open has surpassed consensus EPS estimates only once [3] - The current consensus EPS estimate for the upcoming quarter is $0.05, with expected revenues of$156.96 million, and for the current fiscal year, the estimate is $0.19 on revenues of$637.58 million [9] Industry Context - E2open belongs to the Zacks Internet - Software industry, which is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable industry outlook [1] - The correlation between near-term stock movements and earnings estimate revisions is strong, suggesting that tracking these revisions can provide insights into stock performance [7] Future Outlook - The sustainability of E2open's stock price movement will largely depend on management's commentary during the earnings call [4] - The estimate revisions trend for E2open is currently mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [8]