Toro Co Cuts FY23 Sales Growth Guidance To 7%-8% (Prior 7%-10% ) Vs $4.99B Est. And Adj EPS To $4.7-$4.8 (Prior $4.7-$4.9) Vs $4.85 Est.
Portfolio Pulse from Benzinga Newsdesk
Toro Co has reduced its FY23 sales growth guidance to 7%-8% from the previous 7%-10%, with an adjusted EPS of $4.7-$4.8, down from the prior $4.7-$4.9. The new guidance is below the estimated $4.99B in sales and $4.85 in EPS.
June 08, 2023 | 12:38 pm
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NEGATIVE IMPACT
Toro Co's lowered FY23 sales growth and adjusted EPS guidance may negatively impact its stock price in the short term.
Toro Co has lowered its FY23 guidance for both sales growth and adjusted EPS, which are now below analysts' estimates. This may lead to a negative sentiment among investors, causing a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100