Faro Tech Inc (FARO) said after close Tuesday that it earned $0.36 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $98.8 million, beating estimates by $2.7 million.
In the same quarter a year ago, the company earned $0.38 per share on revenue of $103.9 million.
The stock is up 6.92% to $23.64 after the report.
Faro Tech Inc's profit margins took a hit as earnings fell at a faster pace than revenues.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Faro Tech Inc a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 44. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Faro Technologies Inc is a global technology company. It designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging, and realization systems. The operating segments of the company are 3D Manufacturing, Construction BIM, and Emerging Verticals.
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Faro Tech Inc Up 6.92% To $23.64 After Earnings Beat
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