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Virco Manufacturing Corporation Beats Q1 Earnings and Revenue Estimates

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Virco Manufacturing Corporation (NASDAQ: VIRC) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this company would post a loss of $0.13 per share when it actually produced a loss of $0.14, delivering a surprise of -7.69%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Virco Manufacturing, which belongs to the Zacks Furniture industry, posted revenues of $46.74 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 23.97%. This compares to year-ago revenues of $34.94 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings …

Full story available on Benzinga.com

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