Bio-Rad Currently Expects 2023 Non-GAAP Revenue To Decline By Approximately 3.5% On Currency-Neutral Basis Vs. Previous Estimate Of 0.8% Revenue Growth
Portfolio Pulse from Benzinga Newsdesk
Bio-Rad Laboratories, Inc. (BIO) has revised its 2023 non-GAAP revenue forecast, now expecting a decline of approximately 3.5% on a currency-neutral basis. This is a significant change from the previous estimate of 0.8% revenue growth.
October 26, 2023 | 8:47 pm
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NEGATIVE IMPACT
Bio-Rad's revised revenue forecast for 2023 indicates a decline, which is a significant shift from the previously expected growth. This could potentially impact the company's stock negatively in the short term.
Bio-Rad's revised revenue forecast is a significant shift from growth to decline. This negative outlook could potentially lead to a decrease in investor confidence and a subsequent drop in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100