Helios Technologies Cuts FY23 Consolidated Revenue Forecast From $910M- $940M To $880M-$900M; Consensus $916.93M
Portfolio Pulse from Benzinga Newsdesk
Helios Technologies has reduced its FY23 consolidated revenue forecast from $910M-$940M to $880M-$900M, which is below the consensus estimate of $916.93M.
August 07, 2023 | 9:18 pm
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Helios Technologies has lowered its FY23 revenue forecast, which is now below the consensus estimate. This could negatively impact the company's stock price.
Companies often see their stock prices fall when they lower their revenue forecasts, especially when the new forecast is below the consensus estimate. This is because it signals potential future earnings weakness, which can make the stock less attractive to investors.
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