Symbotic (SYM), a maker of robotic technologies for automating warehouses, late Monday crushed Wall Street’s targets for its fiscal fourth quarter and guided analysts higher for the current period. SYM stock rocketed on the news.
The Wilmington, Mass.-based company earned an adjusted $13 million on sales of $392 million in the quarter ended Sept. 30. Analysts polled by FactSet had expected Symbotic to break even on sales of $306.9 million. In the year-earlier period, Symbotic lost an adjusted $20 million on sales of $244 million.
SYM stock surged 19.1% to 44.26 in after-hours trading on the stock market today. During the regular session Monday, SYM stock dipped a fraction to close at 37.16.
The company’s Q4 report marked its first profitable quarter on an adjusted basis since it went public in June 2022.
Earnings report details to follow.
Symbotic’s customers include Walmart (WMT), Albertsons, C&S Wholesale Grocers, Associated Food Stores and Southern Glazer’s Wine & Spirits.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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