BOC - Why Boston Omaha Stock Sputtered on Monday
2023-05-15 17:44:41 ET
Up-and-coming conglomerate Boston Omaha (NYSE: BOC) wasn't so up-and-coming on the stock exchange Monday. The company's share price slid by nearly 3% on a day when the bellwether S&P 500 index ticked higher. Investors were reacting to Boston Omaha's latest set of quarterly results.
For its first quarter, the figures of which were released after market hours on Friday, Boston Omaha's total revenue was slightly over $22.8 million. That topped both the first-quarter 2022 results of $16.3 million and the average analyst estimate of $21.8 million.
That was the good news. The bad news was that the company flipped to a bottom-line loss of $3.3 million ($0.11 per share) according to standards based on generally accepted accounting principles (GAAP ), against the year-ago profit of $16.3 million. Compounding that, the $0.11 figure was notably worse than the $0.06 consensus prognosticator estimate.
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Why Boston Omaha Stock Sputtered on Monday