Universal Electronics (UEIC) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Universal Electronics reported a quarterly loss of $0.09 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.04, marking an earnings surprise of -125% [1] - The company posted revenues of $90.45 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.64%, and down from $107.39 million year-over-year [2] - Over the last four quarters, Universal Electronics has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Movement and Outlook - Universal Electronics shares have increased approximately 16.1% since the beginning of the year, outperforming the S&P 500's gain of 9% [3] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.24 on revenues of $107.35 million, and for the current fiscal year, it is $0.21 on revenues of $398.44 million [7] Industry Context - The Electronics - Miscellaneous Products industry, to which Universal Electronics belongs, is currently ranked in the top 41% 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, which can impact stock performance [5][6]