Vista Outdoor Lowers FY24 Guidance, Sees Adj. EPS $3.65-$4.05 Vs $4.69 Est.; Sees Sales Of $2.725B-$2.825B Vs $2.87B Est.
Portfolio Pulse from Benzinga Newsdesk
Vista Outdoor has lowered its FY24 guidance due to challenging economic conditions and other short-term factors. The company now expects sales of $2.725 billion to $2.825 billion, adjusted EPS of $3.65 to $4.05, and an effective tax rate of approximately 19.5%. This is lower than the estimated sales of $2.87 billion and EPS of $4.69.
October 16, 2023 | 12:08 pm
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Vista Outdoor's lowered FY24 guidance could negatively impact its stock price in the short term. The company's revised sales and EPS estimates are lower than previously expected.
Vista Outdoor's lowered guidance indicates that the company expects lower profitability in FY24 than previously estimated. This could lead to a decrease in investor confidence and a potential drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100