Symbotic: Maintaining Growth Trajectory (NASDAQ:SYM)

Q2: Solid Quarter

Symbotic (NASDAQ:NASDAQ:SYM) delivered mixed Q2 results with revenue beating expectations but EPS missing estimates. The company reported revenue of $424.3 million, a 59% YoY increase, beating consensus by $11 million. However, EPS came in at -$0.07, a miss of $0.03. Company provided Q3 guidance of $450 – $470 million, which was above consensus. Market reaction was mixed, with stock up initially by 10% but then retraced the gains throughout the week.

Symbotic is part of our robotics portfolio, and we have high expectations from the company. The company wants to transform a $1 trillion legacy industry with its fully automated AI and robotics platform. We started our coverage of the company in November 2023 with a buy rating (see below) Symbotic: This Warehouse Transformer Has More Upside

Three months ago, on February 12th, we issued another…