Belden Lowers FY23 Revenue Outlook To $2.695B-$2.725B (Prior $2.71B-$2.76B) Vs. Consensus Of $2.74B; Sees Adjusted EPS Of $7.15-$7.35 (Prior $6.95-$7.25) Vs. $7.16 Consensus
Portfolio Pulse from Benzinga Newsdesk
Belden has revised its FY23 revenue outlook downwards to $2.695B-$2.725B from the previous $2.71B-$2.76B, which is below the consensus of $2.74B. However, the company has raised its adjusted EPS forecast to $7.15-$7.35 from the prior $6.95-$7.25, slightly below the consensus of $7.16.
August 04, 2023 | 1:06 pm
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Belden's lowered revenue outlook for FY23 may negatively impact its stock price in the short term. However, the raised adjusted EPS forecast could offset some of this impact.
Investors often react negatively to lowered revenue forecasts, which could lead to a decrease in Belden's stock price. However, the company's increased adjusted EPS forecast could mitigate some of this negative impact, as it indicates higher profitability per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100