Hillenbrand Updates EPS To $3.40-$3.50 From $3.30-$3.50 Vs $3.42 Est.
Portfolio Pulse from Happy Mohamed
Hillenbrand has updated its fiscal year 2023 guidance, narrowing its annual EPS to $3.40-$3.50 from $3.30-$3.50. The company has lowered its revenue estimates due to ongoing customer order delays in China and for large plastics projects. However, the midpoint of its full year adjusted EPS range has been raised due to lower interest expense and a more favorable expected tax rate of 29%.
August 04, 2023 | 12:17 pm
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Hillenbrand's updated guidance for FY2023 indicates a potential impact on its stock. The company has narrowed its EPS guidance and lowered revenue estimates due to customer order delays. However, the midpoint of its full year adjusted EPS has been raised due to lower interest expense and a more favorable tax rate.
The news directly pertains to Hillenbrand's financial outlook for FY2023. The narrowing of EPS guidance and lowering of revenue estimates due to customer order delays could negatively impact the stock. However, the raising of the midpoint of its full year adjusted EPS due to lower interest expense and a more favorable tax rate could offset this impact.
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