Globe Specialty Metals (GSM) Q3 Earnings and Revenues Miss Estimates

Core Viewpoint - Globe Specialty Metals reported quarterly earnings of $0.11 per share, missing the Zacks Consensus Estimate of $0.21 per share, and down from $0.27 per share a year ago [1][2] Financial Performance - The company posted revenues of $433.53 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.25%, compared to $416.81 million in the same quarter last year [3] - The earnings surprise for the quarter was -47.62%, while the company had a positive surprise of 62.50% in the previous quarter [2] Stock Performance - Globe Specialty Metals shares have declined approximately 34.6% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [4] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $395.6 million, and for the current fiscal year, it is $0.28 on revenues of $1.68 billion [8] - The estimate revisions trend for the company is mixed, which may change following the recent earnings report [7] Industry Context - The Mining - Miscellaneous industry, to which Globe Specialty Metals belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, indicating potential challenges ahead [9] - The performance of Globe Specialty Metals may be influenced by the overall outlook for the industry [9]