Geospace Technologies's Q1 revenue falls

Reuters

Yesterday

Geospace Technologies's Q1 revenue falls

Overview

Technology manufacturer's Q1 revenue fell 31% yr/yr, with a net loss reported
Smart Water segment revenue declined 21% due to seasonal demand decrease
Energy Solutions segment revenue dropped 40%, impacted by lower OBX fleet utilization

Outlook

Geospace expects strong long-term demand in Smart Water due to infrastructure needs
Company anticipates growth in Intelligent Industrial segment with subscription model

Result Drivers

SEASONAL DEMAND - Smart Water segment revenue decreased due to typical seasonal deployment schedules and municipal budget cycles
OBX UTILIZATION - Energy Solutions segment revenue impacted by lower utilization of OBX rental fleet
CONTRACT MANUFACTURING - Intelligent Industrial segment offset lower sensor demand with increased contract manufacturing services

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$25.59 mln
Q1 EPS		-$0.76
Q1 Net Income		-$9.77 mln
Q1 Operating Expenses		$12.94 mln
Q1 Pretax Profit		-$9.68 mln

Press Release: ID:nBw2Bb8jba

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}