Core Insights - Envela Corporation (ELA) reported quarterly earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, marking a 100% earnings surprise [1] - The company achieved revenues of $46.9 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 17.69% and showing an increase from $36.27 million year-over-year [2] - Envela has outperformed consensus EPS estimates three times in the last four quarters [2] Earnings Performance - The earnings surprise of 100% indicates strong performance relative to expectations, with a previous quarter's surprise of 50% when earnings were $0.06 against an expectation of $0.04 [1] - The current consensus EPS estimate for the upcoming quarter is $0.05, with projected revenues of $41.37 million, and for the current fiscal year, the estimate is $0.21 on revenues of $166.37 million [7] Stock Performance and Outlook - Envela shares have increased by approximately 10.5% since the beginning of the year, while the S&P 500 has gained 19.8%, indicating underperformance relative to the broader market [3] - The company's Zacks Rank is currently 3 (Hold), suggesting that shares are expected to perform in line with the market in the near future [6] Industry Context - The Retail - Jewelry industry, to which Envela belongs, is currently ranked in the bottom 12% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]
Envela Corporation (ELA) Beats Q3 Earnings and Revenue Estimates