Sol-Gel Technologies Ltd. (SLGL) Reports Q1 Loss, Lags Revenue Estimates

Financial Performance - Sol-Gel Technologies Ltd. reported a quarterly loss of $0.23 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, representing an earnings surprise of -53.33% [1] - The company posted revenues of $0.47 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 64.15%, compared to year-ago revenues of $0.76 million [2] - The current consensus EPS estimate for the coming quarter is -$0.17 on $0.3 million in revenues, and for the current fiscal year, it is -$0.67 on $2.4 million in revenues [7] Stock Performance - Sol-Gel Technologies shares have declined approximately 32.1% since the beginning of the year, while the S&P 500 has gained 11.2% [3] - The company has surpassed consensus EPS estimates two times over the last four quarters, but has only topped consensus revenue estimates once in the same period [2] Industry Outlook - The Medical - Generic Drugs industry, to which Sol-Gel Technologies belongs, is currently in the top 25% 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 the stock's performance [5]