Profound(US:PROF) ZACKS·2024-11-08 00:26Company Performance - Profound Medical reported a quarterly loss of $0.38 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.33, and compared to a loss of $0.26 per share a year ago, indicating a negative earnings surprise of -15.15% [1] - The company posted revenues of $2.83 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 14.18%, and this is an increase from year-ago revenues of $1.73 million [2] - Over the last four quarters, Profound Medical has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Outlook - Profound Medical shares have declined approximately 5.8% since the beginning of the year, while the S&P 500 has gained 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.32 on revenues of $3.9 million, and for the current fiscal year, it is -$1.10 on revenues of $11.28 million [7] - The estimate revisions trend for Profound Medical is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] Industry Context - The Medical - Drugs industry, to which Profound Medical belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact the performance of stocks within the industry [5]