On May 26, 2023, Tessco Technologies (NASDAQ:TESS) released its Q4 earnings report at 04:05 PM. Unfortunately, the company missed its estimated earnings by 22.0%, reporting an EPS of $-0.61 instead of the expected $-0.5. However, Tessco Technologies managed to increase its revenue by $2.61 million compared to the same period last year.
Looking at past earnings performances, the company beat EPS estimates by $0.21 in the previous quarter, resulting in a 1.85% increase in share price the following day. Here’s a breakdown of Tessco Technologies’s quarterly results:
Quarter EPS Estimate EPS Actual Revenue Estimate Revenue Actual
Q3 2023 -0.16 0.05 114.57M 114.88M
Q2 2023 -0.13 0.13 113.19M 120.51M
Q1 2023 -0.13 -0.06 107.57M 112.16M
Q4 2022 -0.21 -0.12 99.85M 101.59M
Despite reporting a loss of $5.6 million in its fiscal fourth quarter, Tessco Technologies managed to generate $104.2 million in revenue during the period, which is a slight increase of 2.57% over sales. Investors can track all earnings releases for Tessco Technologies by visiting their earnings calendar.
It’s important to note that the earnings announcement was reviewed by an editor and generated by Benzinga’s automated content engine.
TESS Stock Opens Slightly Lower on May 26, 2023 with Low Trading Volume
On May 26, 2023, TESS stock opened at 8.83, slightly lower than the previous close of 8.84. The day’s range was 8.82 to 8.84, with a volume of 3,900 shares traded. This is significantly lower than the average volume of 39,861 shares traded over the past three months.
TESSCO Technologies Inc to Report Q1 Earnings with Analysts Predicting Significant Increase in Target Price
On May 26, 2023, TESSCO Technologies Inc is set to report its earnings for the current quarter. According to data from CNN Money, the one analyst covering TESSCO Technologies Inc has a median target price of $20.00 for the next 12 months. This represents a significant increase of 126.24% from the stock’s last price of $8.84. The consensus among analysts is to hold TESSCO Technologies Inc stock. The company’s earnings per share for the quarter are expected to be -$0.50, while its sales are projected to be $116.2 million.
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