Why did ILPT's Q3 2024 EPS fall below forecasts?

The EPS of ILPT in Q3 2024 was -$0.38, which fell below the forecast. Integra LifeSciences Holdings Corporation, the company behind ILPT, experienced a 46.1% year-over-year plunge in adjusted EPS for the third quarter of 2024, according to its earnings report. However, the company's gross margin contracted by 452 basis points to 52.6%, and selling, general, and administrative expenses increased by 9.4% to $177.2 million in the quarter under review. Additionally, research and development expenses rose by 3.2% to $27.4 million. Overall, adjusted operating loss was $4.4 million against adjusted earnings per share (EPS) of 41 cents for the quarter. These factors contribute to the lower-than-expected EPS.

|code|Ticker|Name|Date|EPS Surprise|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|ILPT|ILPT.O|Industrial Logistics|2024 Q1|0.07|-0.36|185|
|ILPT|ILPT.O|Industrial Logistics|2024 Q2|0.04|-0.35|185|
|ILPT|ILPT.O|Industrial Logistics|2024 Q3|0|-0.38|185|