Maxar Technologies Earnings Roar, Stock Falls -- Wait, What?
Space company Maxar Technologies (NYSE: MAXR) reported its Q3 2020 earnings late last week, and -- on the surface, at least -- they looked very good indeed.
Heading into earnings day, analysts had forecast that Maxar would earn $1.06 per share for the quarter. In fact, Maxar did better than that, reporting profits of $1.34 per share, outperforming expectations by 26%. Maxar's profits looked even better when compared to how it performed a year ago. Instead of losing money like it did last year, this time around Maxar reported a profit.
Now, you might expect that a huge reversal in fortune like this, and one that crushed consensus earnings expectations to boot, would have netted Maxar Technologies stock price a big gain. That didn't happen, though. To the contrary, Maxar shares collapsed, falling 25% on Friday, and then basically sat out Monday's big stock market rally, rising just 0.5%.
Source Fool.com
