This Is Why Forterra Inc's Stock Is Spiking Today
Forterra's (NASDAQ: FRTA) stock surged on Wednesday morning, bubbling up more than 36% by 11:15 a.m. EST. Driving the rebound was the market's reaction to the company's third-quarter results.
On the surface, Forterra's results didn't look all that great compared to last year's or to analysts' expectations. The company recorded $444.3 million in sales during the quarter, which was only $3 million higher than the year-ago period and $6.9 million below the consensus estimate. The company posted a net loss of $11.5 million, or $0.18 per share. That was well below the $8.4 million, or $0.19 per share, it earned in the year-ago period, and missed expectations by $0.22 per share.
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Source: Fool.com
