Frontdoor Raises FY23 Outlook: Revenue $1.73B - $1.75B (From $1.70B - $1.74B Prior) Vs. $1.73B Estimate
Portfolio Pulse from Benzinga Newsdesk
Frontdoor has raised its FY23 outlook, with revenue now expected to be between $1.73B and $1.75B, up from the previous estimate of $1.70B - $1.74B. The company also increased its gross profit margin range to 45.5% - 47.5% and adjusted EBITDA range to $260M - $280M.
August 04, 2023 | 11:07 am
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POSITIVE IMPACT
Frontdoor's raised FY23 outlook could positively impact its stock price in the short term. The company's increased revenue, gross profit margin, and adjusted EBITDA forecasts indicate strong financial performance.
Companies that raise their financial outlook typically see a positive reaction in their stock price as it indicates better-than-expected performance. Frontdoor's increased revenue, gross profit margin, and adjusted EBITDA forecasts suggest strong financial health, which could attract investors and drive up the stock price.
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