Granite Construction Cuts FY23 Revenue Guidance From $3.4B - $3.6B To $3.35B - $3.45B Vs. $3.43B Est.
Portfolio Pulse from Benzinga Newsdesk
Granite Construction has reduced its FY23 revenue guidance from $3.4B-$3.6B to $3.35B-$3.45B, which is lower than the estimated $3.43B.
July 27, 2023 | 10:50 am
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NEGATIVE IMPACT
Granite Construction's lowered revenue guidance for FY23 may negatively impact its stock price in the short term.
Granite Construction has lowered its revenue guidance for FY23, which is a negative signal to investors. This could lead to a decrease in demand for the stock, thereby potentially driving down its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100