SYM - Symbotic: Maintaining Growth Trajectory

2024-05-19 12:24:26 ET

Summary

• Symbotic's Q2 results beat revenue expectations but missed EPS estimates.
• The company provided strong Q3 guidance of $450 - $470 million, and expects system deployments to accelerate in the coming quarters.
• The company announced key innovation updates and is delivering on its growth strategy.

Q2: Solid Quarter

Symbotic (NASDAQ: SYM ) delivered mixed Q2 results with revenue beating expectations but EPS missing estimates. The company reported revenue of $424.3 million, a 59% YoY increase, beating consensus by $11 million. However, EPS came in at -$0.07, a miss of $0.03. Company provided Q3 guidance of $450 - $470 million, which was above consensus. Market reaction was mixed, with stock up initially by 10% but then retraced the gains throughout the week....

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