Why did GROV's Q3 2024 earnings fall short?
4/8/2025 06:18pm
Grove Collaborative Hldgs (NYSE:GROV) experienced a shortfall in its Q3 2024 earnings, as indicated by its reported financial results. Below are the key reasons for this shortfall:
1. **Revenue Shortfall**: The company's revenue fell short of expectations, with the reported revenue being $52.10 million, which was 2.66% below the analyst estimate of $53.52 million. This decline in revenue can be a significant factor in the earnings shortfall.
2. **Earnings Per Share (EPS) Miss**: Grove Collaborative Hldgs reported an EPS of -28 cents for the quarter, which was below the analyst estimate of -14 cents. This indicates that the company's losses were greater than anticipated, contributing to the overall earnings shortfall.
In summary, Grove Collaborative Hldgs's Q3 2024 earnings fell short due to a combination of lower-than-expected revenue and higher-than-expected losses, as reflected in the company's actual financial performance compared to the analyst estimates.