Geospace Technologies's Q1 revenue falls
Overview
Technology manufacturer's Q1 revenue fell 31% yr/yr, with a net loss reported
Smart Water segment revenue declined 21% due to seasonal demand decrease
Energy Solutions segment revenue dropped 40%, impacted by lower OBX fleet utilization
Outlook
Geospace expects strong long-term demand in Smart Water due to infrastructure needs
Company anticipates growth in Intelligent Industrial segment with subscription model
Result Drivers
SEASONAL DEMAND - Smart Water segment revenue decreased due to typical seasonal deployment schedules and municipal budget cycles
OBX UTILIZATION - Energy Solutions segment revenue impacted by lower utilization of OBX rental fleet
CONTRACT MANUFACTURING - Intelligent Industrial segment offset lower sensor demand with increased contract manufacturing services
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $25.59 mln |
|
Q1 EPS |
| -$0.76 |
|
Q1 Net Income |
| -$9.77 mln |
|
Q1 Operating Expenses |
| $12.94 mln |
|
Q1 Pretax Profit |
| -$9.68 mln |
|
Press Release: ID:nBw2Bb8jba
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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