Why Invacare Stock Soared 15.9% Today
Despite reporting fourth-quarter financials that were shy of analysts' expectations on the top and bottom lines, optimism that a restructuring will produce better results in 2020 sent shares of Invacare (NYSE: IVC) 15.9% higher Monday.
Net sales fell 4.8% year over year to $232.9 million in Q4 2019, largely because of a $3.3 million drop in sales of respiratory products. After accounting for costs and charges associated with its restructuring, its loss clocked in at an adjusted $0.28 per share. Industry watchers were expecting sales to be $8.4 million higher and adjusted EPS to be $0.15 better than what management reported.
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Source Fool.com
