Stock Track | Standex Plummets 5.62% Intraday After Q3 Earnings Miss Estimates
Stock Track
May 01
Standex International (SXI) shares plummeted 5.62% during intraday trading on Friday, following the release of the company's fiscal third-quarter financial results.
The decline came after the company reported adjusted earnings of $2.21 per diluted share for the quarter, which fell short of the $2.22 per share expected by analysts surveyed by FactSet. Net sales for the period rose year-over-year to $224.6 million but also missed the analyst consensus estimate of $225.2 million.
While both earnings and sales showed growth compared to the same period a year earlier, the failure to meet market expectations on key financial metrics prompted a negative reaction from investors during the trading session.
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