Ivanhoe Electric Reports Q2 Loss, Misses Revenue Estimates
Ivanhoe Electric (AMEX:IE) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.41 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -14.71%. A quarter ago, it was expected that this mineral exploration company would post a loss of $0.34 per share when it actually produced earnings of $0.46, delivering a surprise of 235.29%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Ivanhoe Electric, which belongs to the Zacks Technology Services industry, posted revenues of $0.54 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 46.20%. This compares to year-ago revenues of $1.31 million. The company has not been able to beat consensus revenue estimates 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 call.
Ivanhoe Electric shares …
Full story available on Benzinga.com
