Harrow (HROW) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - Harrow (HROW) reported a quarterly loss of $0.13 per share, better than the Zacks Consensus Estimate of a loss of $0.25, and compared to a loss of $0.02 per share a year ago, representing an earnings surprise of 48% [1] - The company posted revenues of $48.94 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 14.40%, and up from $33.47 million in the same quarter last year [2] - Over the last four quarters, Harrow has surpassed consensus EPS estimates just once, but has topped consensus revenue estimates two times [2] Stock Performance - Harrow shares have increased approximately 102.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 9.9% [3] - The current consensus EPS estimate for the coming quarter is -$0.13 on revenues of $49.42 million, and for the current fiscal year, it is -$0.52 on revenues of $192.25 million [7] Industry Outlook - The Medical - Drugs industry, to which Harrow belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can materially impact stock performance [5][8]