Coherent Expects FY24 Revenue Of $4.5B – $4.7B Vs. $5.1B Est., Adj. EPS $1.00 - $1.50 Vs. $2.96 Est.
Portfolio Pulse from Benzinga Newsdesk
Coherent Inc. has projected its FY24 revenue to be between $4.5B and $4.7B, which is lower than the estimated $5.1B. The company also expects its adjusted EPS to be between $1.00 and $1.50, significantly lower than the estimated $2.96.
August 16, 2023 | 9:56 am
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NEGATIVE IMPACT
Coherent's lower than expected FY24 revenue and EPS forecasts may negatively impact its stock price in the short term.
Coherent's projected FY24 revenue and EPS are significantly lower than estimates. This could lead to a negative market reaction, potentially driving the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100