Newell Brands Lowers FY23 Outlook: Adj. EPS $0.80 - $0.90 (From $0.95 - $1.08 Prior) Vs. $0.94 Estimate, Revenue $8.20 - $8.34B (From $8.40B - $8.60B Prior) Vs. $8.45B Estimate
Portfolio Pulse from Benzinga Newsdesk
Newell Brands has lowered its FY23 outlook, with adjusted EPS now expected to be $0.80 - $0.90, down from the previous $0.95 - $1.08. Revenue is also expected to be lower, at $8.20 - $8.34B, down from the previous $8.40B - $8.60B. The company's outlook for operating cash flow remains unchanged.
July 28, 2023 | 11:04 am
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Newell Brands has lowered its FY23 outlook, which could negatively impact its stock price in the short term.
Companies often see their stock prices fall when they lower their earnings or revenue outlooks, as this can indicate potential future financial difficulties. In this case, Newell Brands has lowered both its EPS and revenue outlook for FY23, which could lead investors to sell their shares, driving the price down.
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