ESGL Revises FY23 Revenue Guidance From $10.95M To $6.5M-$8.5M
Portfolio Pulse from Benzinga Newsdesk
ESGL has revised its FY23 revenue guidance down from $10.95M to a range of $6.5M-$8.5M. The company also adjusted its non-GAAP EBITDA forecast to between $1.3M and $1.6M, down from the previously anticipated $2.9M. The changes are due to geopolitical tensions and lower-than-expected proceeds from the public listing, which delayed expansion plans.
October 04, 2023 | 8:09 pm
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NEGATIVE IMPACT
ESGL's revised FY23 revenue guidance and lower EBITDA forecast could negatively impact investor sentiment and potentially lead to a short-term decrease in the company's stock price.
ESGL's downward revision of its FY23 revenue guidance and EBITDA forecast is a negative signal to investors. This could lead to a decrease in demand for the company's shares, potentially causing a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100