Stryve Foods, Inc. (SNAX) Reports Q2 Loss, Tops Revenue Estimates

Financial Performance - Stryve Foods, Inc. reported a quarterly loss of $0.91 per share, which is better than the Zacks Consensus Estimate of a loss of $1.39, and an improvement from a loss of $1.66 per share a year ago, representing an earnings surprise of 34.53% [1] - The company posted revenues of $6.18 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 23.31%, and showing a slight increase from revenues of $6 million in the same quarter last year [2] Stock Performance - Stryve Foods shares have declined approximately 30.8% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The current Zacks Rank for Stryve Foods is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is -$1.23 on revenues of $6.97 million, and for the current fiscal year, it is -$5.01 on revenues of $25.68 million [7] - The estimate revisions trend for Stryve Foods is mixed, and changes in these estimates could impact the stock's performance following the recent earnings report [6] Industry Context - The Food - Miscellaneous industry, to which Stryve Foods belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]