Hall of Fame Resort & Entertainment (NASDAQ:HOFV) Third Quarter 2023 Results
Key Financial Results
- Revenue: US$8.74m (flat on 3Q 2022).
- Net loss: US$16.2m (loss widened by 45% from 3Q 2022).
- US$2.85 loss per share (further deteriorated from US$2.02 loss in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Hall of Fame Resort & Entertainment Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 30%.
Looking ahead, revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in the US.
The company’s shares are up 29% from a week ago.
What about risks? Every company has them, and we’ve spotted 3 warning signs for Hall of Fame Resort & Entertainment (of which 1 doesn’t sit too well with us!) you should know about.
What are the risks and opportunities for Hall of Fame Resort & Entertainment?
Earnings are forecast to grow 60.88% per year
Highly volatile share price over the past 3 months
Does not have a meaningful market cap ($22M)
Shareholders have been diluted in the past year
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