Symbotic Inc reports results for the quarter ended June 30 - Earnings Summary

• Symbotic Inc SYM.OQ reported quarterly adjusted earnings of 11 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -2 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 4 cents per share. Wall Street expected results to range from -3 cents to 6 cents per share.

• Revenue rose 20.4% to $592.12 million from a year ago; analysts expected $533.25 million.

• Symbotic Inc's reported EPS for the quarter was a loss of 5 cents​.

• The company reported a quarterly loss of $5.91 million.

• Symbotic Inc shares had risen by 62.7% this quarter and gained 166.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 31.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 9 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the industrial machinery & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Symbotic Inc is $35.12, about 80% below its last closing price of $63.21

This summary was machine generated from LSEG data August 6 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)