SunOpta shares are trading lower after the company reported a year-over-year decrease in Q2 adjusted EPS results and worse-than-expected Q2 sales results. The company also cut FY23 revenue outlook below estimates.
Portfolio Pulse from Benzinga Newsdesk
SunOpta reported a year-over-year decrease in Q2 adjusted EPS results and worse-than-expected Q2 sales results. The company also cut its FY23 revenue outlook below estimates, causing its shares to trade lower.
August 10, 2023 | 12:47 pm
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NEGATIVE IMPACT
SunOpta's lower than expected Q2 results and reduced FY23 revenue outlook may negatively impact its stock price in the short term.
SunOpta's lower than expected Q2 results and reduced FY23 revenue outlook are negative indicators for the company's financial performance. This could lead to a decrease in investor confidence, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100