Shares of Transcat Inc. (TRNS) plummeted by 7.01% on Monday, October 29, 2024, as the company reported disappointing fiscal second-quarter earnings that fell short of analysts' expectations.
The provider of calibration and compliance services reported adjusted earnings of $0.52 per diluted share for the quarter ended September 28, 2024, down from $0.60 a year earlier and missing the consensus estimate of $0.65 from analysts polled by Capital IQ.
Transcat's revenue for the quarter rose to $67.8 million from $62.8 million a year ago but still fell short of the $70.3 million expected by analysts. The company's earnings and revenue miss came as a surprise to investors, leading to a sell-off in the stock.
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