SelectQuote Stock Slides After Mixed Q4 Results
Portfolio Pulse from Anusuya Lahiri
SelectQuote, Inc (NYSE:SLQT) reported Q4 FY23 revenue of $221.78 million, a 59% YoY increase, beating the consensus of $181.41 million. However, the company's shares traded lower by 12.5% following the announcement. The company expects FY24 revenue of $1.05 billion - $1.20 billion and a net loss of $(50) million - $(22) million.
September 13, 2023 | 2:10 pm
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NEGATIVE IMPACT
Despite beating revenue expectations, SelectQuote's stock price fell by 12.5%. The company's outlook for FY24 includes a projected net loss, which may have contributed to the negative market reaction.
SelectQuote's Q4 revenue beat expectations, which would typically be a positive signal for investors. However, the company's shares fell by 12.5%, likely due to the projected net loss for FY24. This suggests that investors are concerned about the company's profitability in the upcoming fiscal year.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100