Stronghold Digital Mining, Inc. (SDIG) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Stronghold Digital Mining, Inc. reported a quarterly loss of $0.74 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.41, and compared to a loss of $2.40 per share a year ago, indicating an earnings surprise of -80.49% [1] - The company posted revenues of $19.1 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.19%, and this represents a slight increase from year-ago revenues of $18.23 million [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times, but has not been able to beat consensus revenue estimates [2] Stock Performance - Stronghold Digital Mining shares have lost approximately 63.8% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The current consensus EPS estimate for the coming quarter is -$0.47 on revenues of $19.3 million, and for the current fiscal year, it is -$0.94 on revenues of $86.4 million [7] Industry Outlook - The Zacks Industry Rank for Financial - Miscellaneous Services, to which Stronghold Digital Mining belongs, is currently in the top 26% of over 250 Zacks industries, indicating a favorable industry outlook [8]