Piedmont Lithium (US:PLL) ZACKS·2024-11-12 14:00Company Performance - Piedmont Lithium Inc. reported a quarterly loss of $0.86 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.46, and a significant decline from earnings of $0.88 per share a year ago, indicating an earnings surprise of -86.96% [1] - The company posted revenues of $27.66 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 15.93%, and a decrease from year-ago revenues of $47.13 million [2] - Piedmont Lithium shares have lost about 57% since the beginning of the year, contrasting sharply with the S&P 500's gain of 25.8% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.28 on revenues of $49 million, and for the current fiscal year, it is -$2.66 on revenues of $108.52 million [7] - The estimate revisions trend for Piedmont Lithium is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6] Industry Context - The Mining - Miscellaneous industry, to which Piedmont Lithium belongs, is currently in the bottom 29% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment and stock performance [5]