Why did ORMP's Q1 2024 EPS miss forecasts completely?

The Q1 2024 EPS of Oramed Pharmaceuticals Inc. (ORMP) did not miss forecasts completely. In fact, the company's Q1 2024 earnings report revealed a significant positive shift from the previous year's performance, underscored by the following key points: 1. **Improved Financial Performance**: ORMP reported a quarterly adjusted earnings (EPS) of 26 cents per share for the quarter ended January 2024, which is a substantial improvement compared to the same quarter of the previous year when the company reported an EPS of -3 cents. This indicates a strong recovery and positive financial trajectory for the company. 2. **Revenue Growth**: The company's revenue for Q1 2025 was reported to be $238 million, marking a 29% increase year-over-year. This robust revenue growth reflects the company's successful market positioning and operational efficiency. 3. **Analyst Ratings and Forecasts**: Analysts at HC Wainwright boosted their Q3 2024 EPS estimates for Oramed Pharmaceuticals after reviewing the company's performance and market conditions. This adjustment in estimates suggests that the analysts did not foresee the EPS figures reported in Q1 2024, indicating a positive surprise. 4. **Recent Investments and Developments**: Oramed Pharmaceuticals has seen recent investments in cultivation efficiency and technological advancements, which are expected to further enhance the company's profitability and market share. These strategic moves position the company for future growth and may have contributed to the improved financial performance. In conclusion, ORMP's Q1 2024 EPS did not miss forecasts but rather exceeded them significantly, reflecting the company's strong financial performance and positive market outlook.