Harrow (HROW) Reports Q3 Loss, Lags Revenue Estimates

Core Insights - Harrow (HROW) reported a quarterly loss of $0.12 per share, which was worse than the Zacks Consensus Estimate of a loss of$0.05, marking an earnings surprise of -140% [1] - The company generated revenues of $49.26 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 11.42$34.27 million year-over-year [2] - Harrow's stock has increased by approximately 345.6% since the beginning of the year, significantly outperforming the S&P 500's gain of 25.5% [3] Company Performance - Over the last four quarters, Harrow has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is $0.50 on revenues of$81.8 million, and for the current fiscal year, it is $0.09 on revenues of$223.66 million [7] - The estimate revisions trend for Harrow is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical - Drugs industry, to which Harrow belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]