Codexis(US:CDXS) ZACKSยท2024-10-31 22:31Group 1: Earnings Performance - Codexis reported a quarterly loss of $0.29 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.25, and compared to a loss of $0.26 per share a year ago, indicating an earnings surprise of -16% [1] - The company posted revenues of $12.83 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 10.27%, and showing an increase from year-ago revenues of $9.28 million [2] - Over the last four quarters, Codexis has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Codexis shares have increased by approximately 5.3% since the beginning of the year, while the S&P 500 has gained 21.9%, indicating underperformance relative to the broader market [3] - The current consensus EPS estimate for the upcoming quarter is -$0.02 on revenues of $29.68 million, and for the current fiscal year, it is -$0.75 on revenues of $66.03 million [7] - The estimate revisions trend for Codexis is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [6] Group 3: Industry Context - The Medical - Biomedical and Genetics industry, to which Codexis belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable industry outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]