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Genasys (GNSS) Reports Q2 Loss, Lags Revenue Estimates
Genasys Genasys (US:GNSS) Zacks Investment Researchยท2024-05-14 22:46

Company Performance - Genasys reported a quarterly loss of $0.16 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, and compared to a loss of $0.09 per share a year ago [1] - The quarterly report represented an earnings surprise of -33.33%, and the company had a previous loss of $0.15 per share against an expected loss of $0.10, resulting in a surprise of -50% [2] - Revenues for the quarter were $5.74 million, missing the Zacks Consensus Estimate by 18.55%, and down from $11.21 million year-over-year [3] Future Outlook - The sustainability of Genasys' stock price movement will depend on management's commentary during the earnings call and future earnings expectations [4] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $15.62 million, and for the current fiscal year, it is -$0.28 on revenues of $48.63 million [8] - The estimate revisions trend for Genasys is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - Genasys operates within the Consumer Services - Miscellaneous industry, which is currently ranked in the bottom 33% of over 250 Zacks industries [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly impact stock performance [6]