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

• PowerFleet Inc AIOT.OQ reported a quarterly adjusted loss of 8 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -21 cents. The mean expectation of six analysts for the quarter was for a loss of one cent per share. Wall Street expected results to range from -5 cents to 2 cents per share.

• Revenue rose 38% to $104.12 million from a year ago; analysts expected $103.22 million.

• PowerFleet Inc's reported EPS for the quarter was a loss of 8 cents​.

• The company reported a quarterly loss of $10.23 million.

• PowerFleet Inc shares had fallen by 10.2% this quarter and lost 41.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 185.7% 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 7 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is also "buy"

• Wall Street's median 12-month price target for PowerFleet Inc is $9.00, about 57% above its last closing price of $3.87

This summary was machine generated from LSEG data August 11 at 01:31 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)