Symbotic Reports Strong Q1 Earnings, Stock Down Amid Market Gains
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 10 2024
0mins
Should l Buy SYM?
Symbotic Inc. shares fell 7.32% as the stock crossed below its 5-day SMA, despite positive market conditions with the Nasdaq-100 and S&P 500 both up.
The decline comes after Symbotic reported a strong Q1 with a 30% year-over-year increase in net revenue, exceeding market expectations. However, the company missed earnings estimates, reporting quarterly earnings of $0.02 per share against a consensus of $0.03. Analysts maintain a Neutral rating, indicating a strong market position but cautioning about potential volatility.
This performance highlights the company's operational efficiency and solid demand, but the stock's drop suggests a sector rotation despite the overall market strength, reflecting investor caution in the face of mixed earnings results.
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Analyst Views on SYM
Wall Street analysts forecast SYM stock price to rise
14 Analyst Rating
7 Buy
5 Hold
2 Sell
Moderate Buy
Current: 54.010
Low
42.00
Averages
67.27
High
83.00
Current: 54.010
Low
42.00
Averages
67.27
High
83.00
About SYM
Symbotic Inc. is an automation technology company reimagining the supply chain with its end-to-end, artificial intelligence (AI) powered robotic and software platform. It develops, commercializes, and deploys end-to-end technology solutions that improve supply chain operations. It automates the processing of pallets and cases in large warehouses or distribution centers for some of the retail and wholesale companies in the world. The Symbotic platform is based on an approach to connecting producers of goods to end users in a way that resolves the mismatches of quantity, timing and location that arise between the two, while reducing costs. It utilizes fully autonomous robots, collectively controlled by its AI-enabled system software, to achieve at scale, real world supply chain improvements. It serves various industries: retail grocery, food wholesale, consumer packaged goods, retail general merchandise, footwear and apparel, and food and beverage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Human Rights Progress: Symbotic achieved a perfect score of 100 in the 2026 Corporate Equality Index by the Human Rights Campaign Foundation, placing it among 534 awarded companies, showcasing its excellence in LGBTQ+ workplace equality.
- Commitment to Diversity: CEO Rick Cohen emphasized that this achievement reflects the strength of the Symbotic team and their deep commitment to diversity, asserting that diverse perspectives and equitable practices are critical for technological innovation.
- Employee Empowerment: Chief Human Resources Officer Miriam Ort noted that receiving this honor for the second consecutive year reinforces the company's dedication to creating a workplace where top industry talent feels valued and empowered.
- Industry Impact: The 2026 CEI report indicates that over 22 million workers in the U.S. benefit from workplace protections, and Symbotic's performance not only enhances its brand image but also sets a benchmark for the entire industry.
See More
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See More
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Market Overview: The increasing significance of artificial intelligence, automation, and robotics is highlighted, with companies like Symbotic showing potential for growth despite inherent volatility in the industry.
Stock Performance: Symbotic's stock has experienced fluctuations, but analysts suggest a limited downside with significant upside potential, indicating a strong market position and robust trading activity.
Financial Results: Symbotic reported a strong Q1 with a 30% year-over-year increase in net revenue, outperforming market expectations and demonstrating solid demand and operational efficiency.
Future Prospects: The company is focused on accelerating the adoption of its robotic systems and improving efficiencies, with a substantial backlog indicating potential for future growth and expansion in the market.
See More
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- Earnings Highlights: Symbotic reported quarterly earnings of $0.02 per share, missing the consensus estimate of $0.03, while revenue of $629.99 million exceeded the Street estimate of $623.11 million, demonstrating resilience in revenue growth.
- Future Outlook: The company expects second-quarter revenue between $650 million and $670 million, significantly above the analyst estimate of $639.24 million, indicating management's confidence in future performance.
- Analyst Perspective: DA Davidson analyst Matt J. Summerville maintained a Neutral rating, noting that the company’s sales exceeded expectations, with adjusted EBITDA and gross profit margins also ahead of projections, reflecting strong operational performance.
- Financial Flexibility: The analyst emphasized that Symbotic has a strong balance sheet and liquidity, providing essential funding support for advancing product and technology initiatives, expanding contract manufacturing, and enhancing supply chain capabilities.
See More
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- Revenue and Profit Growth: Symbotic reported a 26% revenue increase and a 72% rise in gross profit for fiscal year 2025, indicating significant progress towards profitability, which is likely to attract more investor interest.
- Strong Financial Position: By the end of 2025, Symbotic's cash reserves reached $1.3 billion, with a backlog of $22.5 billion, nearly ten times its 2025 revenue, showcasing robust potential for future growth.
- Customer Base Expansion: The signing of a new customer agreement with medical supplies giant Medline signifies the successful application of Symbotic's AI automation technology across industries, enhancing its market competitiveness.
- Strategic Acquisitions and Partnerships: Symbotic's acquisition of Walmart's advanced systems and robotics business, along with a nearly $11 billion contract for its Exol project with SoftBank, is expected to drive sustained growth for the company in the coming years.
See More
