Arcutis Biotherapeutics ARQT is set to give its latest quarterly earnings report on Friday, 2023-11-03. Here's what investors need to know before the announcement.
Analysts estimate that Arcutis Biotherapeutics will report an earnings per share (EPS) of $-0.86.
Arcutis Biotherapeutics bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company beat EPS by $0.06, which was followed by a 4.48% drop in the share price the next day.
Here's a look at Arcutis Biotherapeutics's past performance and the resulting price change:
| Quarter | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|
| EPS Estimate | -1.22 | -1.28 | -1.42 | -1.67 |
| EPS Actual | -1.16 | -1.31 | -1.18 | -1.89 |
| Price Change % | -4.48% | -18.83% | 3.15% | -0.43% |
Stock Performance
Shares of Arcutis Biotherapeutics were trading at $2.26 as of November 01. Over the last 52-week period, shares are down 87.79%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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