Stryve Foods Inc Down 10.92% To $3.63 After Earnings Beat

Tuesday, August 15, 2023 - Stryve Foods Inc (SNAX) reported upside earnings and downside revenues.

Stryve Foods Inc's earnings came in at an EPS loss of $1.66 per share, 11.00% higher than estimates for an EPS loss of $1.87 per share. The firm's loss per share narrowed by 72% since reporting a loss of $5.85 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Consensus analyst estimates were at $7.4 million. The Consumer Defensive company missed on those expectations for its second quarter with revenue of $6 million, a negative revenue surprise of $1.4 million (19%). The firm managed negative 45% growth year-over-year due to Stryve Foods Inc reporting quarterly revenue of $10.9 million in its year-ago quarter. Stryve Foods Inc achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 10.92% to $3.63 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

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

Trading in the five days leading up to the report earned Stryve Foods Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Stryve Foods Inc is focused on manufacturing and marketing highly differentiated healthy snacks that disrupt traditional snacking categories. It offers convenient snacks that are lower in sugar and carbohydrates and higher in protein than other snacks. Stryve offers all-natural, delicious snacks which it believes are a nutritious and conveniently healthy snacking option for on-the-go lives.