Garmin Ltd Expects FY23 Revenue $5.05B (Prior $5.0B) Vs $5.05B Est, Reiterated Proforma EPS $5.15 Vs $5.24 Est
Portfolio Pulse from Benzinga Newsdesk
Garmin Ltd has updated its FY23 revenue forecast to $5.05B, up from the previous estimate of $5.0B, which aligns with the market estimate. However, the company reiterated its proforma EPS at $5.15, which is lower than the estimated $5.24.
August 04, 2023 | 10:58 am
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NEUTRAL IMPACT
Garmin's updated FY23 revenue forecast matches market expectations, but its proforma EPS is lower than estimated. This mixed update may have a neutral to slightly negative impact on the stock.
Garmin's updated revenue forecast is in line with market expectations, which is positive. However, the company's proforma EPS is lower than estimated, which could be seen as a negative by investors. This mixed update may result in a neutral to slightly negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100