Arcutis Biotherapeutics, Inc. (ARQT) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - Arcutis Biotherapeutics reported a quarterly loss of $0.33 per share, better than the Zacks Consensus Estimate of a loss of $0.42, and an improvement from a loss of $0.73 per share a year ago, representing an earnings surprise of 21.43% [1] - The company posted revenues of $44.76 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 17.62%, compared to revenues of $38.11 million in the same quarter last year [2] - Over the last four quarters, Arcutis has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Arcutis Biotherapeutics shares have increased approximately 187.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.38 on revenues of $49.14 million, and for the current fiscal year, it is -$1.60 on revenues of $153.8 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Arcutis belongs, is currently ranked in the top 38% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]