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Arcutis Biotherapeutics, Inc. (ARQT) Reports Q2 Loss, Misses Revenue Estimates

Company Performance - Arcutis Biotherapeutics reported a quarterly loss of $0.42 per share, better than the Zacks Consensus Estimate of a loss of $0.48, and an improvement from a loss of $1.16 per share a year ago, indicating a 63.79% year-over-year improvement [1] - The company achieved an earnings surprise of 12.50% and has surpassed consensus EPS estimates three times over the last four quarters [1] - Revenues for the quarter ended June 2024 were $30.86 million, slightly missing the Zacks Consensus Estimate by 0.46%, but significantly up from $5.19 million in the same quarter last year [1] Stock Performance - Arcutis Biotherapeutics shares have increased approximately 208.1% since the beginning of the year, outperforming the S&P 500's gain of 13.9% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.41 on revenues of $43.3 million, and for the current fiscal year, it is -$1.60 on revenues of $182.47 million [4] - The estimate revisions trend for Arcutis Biotherapeutics is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Medical - Biomedical and Genetics industry, to which Arcutis Biotherapeutics belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, TFF Pharmaceuticals, is expected to report a quarterly loss of $1.70 per share, reflecting a year-over-year change of +51.4%, with revenues projected at $0.15 million, down 54.6% from the previous year [5]