MEI Expects Q2 Net Sales $285M-$295M Vs $310.52M Est, Adj EPS $0.12-$0.17 Vs $0.49 Est , FY24 Net Sales $1.14B-$1.18B (Prior $1.15B-$1.20B) Vs $1.16B Est, Adj EPS $0.88-$1.08 (Prior $1.55-$1.75) Vs $1.59 Est, FY25 Net Sales $1.25B-$1.35B Vs $1.25B Est
Portfolio Pulse from Benzinga Newsdesk
MEI has revised its Q2 and FY24 forecasts downwards due to operational inefficiencies and costs related to the discontinuation of Dabir Surfaces and acquisition of Nordic Lights. Q2 net sales are expected to be $285M-$295M, down from $310.52M estimated, and adjusted EPS is expected to be $0.12-$0.17, down from $0.49 estimated. FY24 net sales are expected to be $1.14B-$1.18B, down from $1.15B-$1.20B, and adjusted EPS is expected to be $0.88-$1.08, down from $1.55-$1.75. FY25 forecasts remain unchanged.
September 07, 2023 | 11:17 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
MEI has lowered its Q2 and FY24 forecasts due to operational inefficiencies and costs related to the discontinuation of Dabir Surfaces and acquisition of Nordic Lights. This could negatively impact the company's stock in the short term.
MEI's lowered forecasts for Q2 and FY24 indicate that the company is facing operational challenges and costs that are impacting its financial performance. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100