Beyond Air Inc Down 16.93% To $1.79 After Earnings Beat

Beyond Air Inc (XAIR) reported better than expected earnings this afternoon for Q3 2024.

Wall Street earnings per share (EPS) projections for Beyond Air Inc were at a loss of $0.53 per share. The company beat those estimates with an EPS loss of $0.50 per share. The loss of $0.50 per share (which represents a -6% EPS surprise) led to the company's profits falling 16% compared to last year when the firm reported an EPS loss of $0.43 per share. The decline in Beyond Air Inc's annual growth rate represents how the business isn't performing well amid current economic conditions.

Consensus estimates for Beyond Air Inc revenue averaged out to $450 thousand, with the business missing on those expectations with reported third-quarter revenue of $391 thousand. The $59 thousand (13%) negative revenue surprise led to 0% growth year-over-year as the firm reported revenue of $0.00 in its year-ago quarter. The lower earnings growth compared to revenue points to Beyond Air Inc not being able to improve its profit margin.

The stock is down 16.93% to $1.79 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 36. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Beyond Air Inc is a clinical-stage medical device and biopharmaceutical company which develops a Nitric Oxide (NO) Generator and Delivery System that uses NO generated from ambient air and delivers precise amounts of NO to the lungs for the potential treatment of respiratory and other diseases. The firm is applying its therapeutic expertise to develop treatments for pulmonary hypertension, in addition to treatments for lower respiratory tract infections.