LeddarTech Holdings Inc. (NASDAQ: LDTC) experienced a significant earnings miss in Q2 2024, surprising the market with a decline in revenue and a substantial loss. Here are the key details:
- Earnings Per Share (EPS) Miss: The company reported an actual EPS of -$0.45 for Q2 2024, which was a stark contrast to the analyst estimate of -$0.1512. This indicates a wider-than-expected loss, missing the mark by a significant margin.
- Revenue Fall: LeddarTech's reported revenue for the quarter was $1.38 million, which was notably lower than the consensus estimate of $0.90 million23. This discrepancy suggests that the company's revenue fell short of market expectations.
- Analyst Reaction: Following the earnings release, Roth Capital decreased its Q3 2024 EPS estimates for LeddarTech, reflecting the broader market's disappointment with the company's performance4. Roth Mkm also reduced its target price on LDTC shares from $7.00 to $5.00, indicating a more cautious outlook6.
- Market Response: LDTC's stock price dropped 2.4% during mid-day trading following the earnings release, trading as low as $0.856. The decline in stock price and the adjustments in price targets by analysts highlight the market's negative reaction to the earnings report.
- Institutional Investor Activity: Despite the earnings miss, there was some institutional investor interest, with Cowen AND Company LLC acquiring a new stake in LeddarTech45. However, the ownership percentage remained relatively low, with institutional investors and hedge funds owning only 9.62% of the company's stock6.
In conclusion, LeddarTech's Q2 2024 earnings fell short of market expectations, resulting in a significant earnings miss. This disappointment was reflected in the company's stock price and adjusted price targets set by analysts.
4/12/2025 07:34am
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