urban-gro Cuts FY23 Consolidated Revenue Forecast From $100M-$120M To $90M-$95M, Est. $103M
Portfolio Pulse from Benzinga Newsdesk
urban-gro has revised its FY23 consolidated revenue forecast from $100M-$120M to $90M-$95M, lower than the estimated $103M. This is due to the pause of an active project and timing shifts in other projects. The company expects sequential quarterly increases in both revenue and Adjusted EBITDA.
August 14, 2023 | 8:23 pm
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urban-gro's revised FY23 revenue forecast is lower than previously expected due to project delays. However, the company expects sequential quarterly increases in revenue and Adjusted EBITDA.
urban-gro's revised revenue forecast is lower than previously expected, which could negatively impact investor sentiment and the stock price. However, the company's expectation of sequential quarterly increases in revenue and Adjusted EBITDA could mitigate some of this negative impact.
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