Arcadia Biosciences (RKDA) Q2 Earnings Miss Estimates

Company Performance - Arcadia Biosciences reported quarterly earnings of $0.78 per share, missing the Zacks Consensus Estimate of $1.27 per share, compared to a loss of $2.64 per share a year ago, representing an earnings surprise of -38.58% [1] - The company posted revenues of $1.31 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 37.47%, but down from year-ago revenues of $1.39 million [2] - Over the last four quarters, Arcadia Biosciences has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Outlook - Arcadia Biosciences shares have lost about 6.7% since the beginning of the year, while the S&P 500 has gained 12.1% [3] - The current consensus EPS estimate for the coming quarter is -$1.03 on $1.1 million in revenues, and -$2.29 on $4.62 million in revenues for the current fiscal year [7] - The estimate revisions trend for Arcadia Biosciences is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Agriculture - Products industry, to which Arcadia Biosciences belongs, is currently in the bottom 15% of the Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment [5]