Universal Electronics Second Quarter 2024 Earnings: Misses Expectations

Universal Electronics (NASDAQ:UEIC) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$90.5m (down 16% from 2Q 2023).
• Net loss: US$8.19m (loss narrowed by 21% from 2Q 2023).
• US$0.63 loss per share (improved from US$0.81 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Universal Electronics Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) also missed analyst estimates by 114%.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's shares are down 14% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Universal Electronics' balance sheet health.

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