Arcutis shares fall after earnings miss
Shares of Arcutis hit a 52-week high of $34 a share on Nov. 4, but those shares came tubling down in after-hours trading after the company shared its financial results for the third quarter of 2026.
Announced after the markets closed Nov. 4, Arcutis disclosed that revenue hit $143.9 million for the quarter ended Sept. 30, a 45% gain from the same quarter a year ago, driven by strong demand growth. As a result, the company raised 2026 full-year net product sales guidance to $535 million to $545 million.
The company failed to meet expectations on the bottom line, however, as Arcutis announced net income of $8.8 million, or a diluted earnings per share of 6 cents. Analysts expected diluted earnings per share to be between 17 and 18 cents, according to Zacks Consensus Estimate.
As a result, shares fell 15% in after-hours trading, with the stock price just hovering above $29.
