What caused PSQH's Q2 2024 EPS miss?

PSQ Holdings' (NYSE: PSQH) Q2 2024 EPS miss can be attributed to several factors: 1. **Earnings Estimate Reduction**: Prior to the earnings release, Roth Capital had reduced its EPS estimates for Q2 2024, from $0.02 to $0.30. This downward adjustment suggests that analysts were anticipating a decline in earnings, which was indeed reflected in the reported EPS of -$0.36. 2. **Revenue Shortfall**: While PSQH reported a total revenue of $5.99 million for the quarter, this fell short of the analyst estimate of $6.4 million. The revenue shortfall, coupled with the earnings estimate miss, indicates that the company's performance in Q2 2024 was below market expectations. |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |PSQH|PSQH.N|PSQ Holdings|2023 Q3|-327.7777777777778|-0.77|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q1|-9.999999999999995|-0.44|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q2|69.49152542372882|-0.36|169| |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |PSQH|PSQH.N|PSQ Holdings|2023 Q3|1529.491150087456|2030900|169| |PSQH|PSQH.N|PSQ Holdings|2023 Q4|889.67795389049|2747346|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q1|816.8193866160186|3465889|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q2|1029.91295187717|5985228|169| 3. **Net Income Loss**: PSQH reported a net loss of $11.24 million for Q2 2024, which further underscores the company's financial challenges during the period. This net income loss, combined with the EPS miss, paints a picture of a struggling company that is not only missing earnings expectations but also operating at a loss. |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |PSQH|PSQH.N|PSQ Holdings|2023 Q3|-854.0689200018857|-2.0238664E7|169| |PSQH|PSQH.N|PSQ Holdings|2023 Q4|-155.63666468693197|-5681576|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q1|-88.06082564252861|-1.2576831E7|169| |PSQH|PSQH.N|PSQ Holdings|2024 Q2|45.77925996656485|-1.1235246E7|169| In summary, PSQH's Q2 2024 EPS miss can be attributed to a combination of reduced earnings estimates, revenue shortfall, and net income loss. These factors collectively point towards operational challenges and lower-than-expected financial performance.