Barnes Lowered FY23 Adj. EPS Outlook To $1.57 - $1.67 (From $2.15 - $2.30 Prior) Vs. $2.06 Estimate; Organic Sales Growth To +5% to +6% (From +7% to +9% Prior)
Portfolio Pulse from Benzinga Newsdesk
Barnes has lowered its FY23 adjusted EPS outlook to $1.57 - $1.67 from $2.15 - $2.30. The company also revised its organic sales growth to +5% to +6% from +7% to +9%.
October 27, 2023 | 10:35 am
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Barnes has revised its FY23 earnings and sales growth outlook downwards, which could negatively impact its stock price.
Barnes has lowered its FY23 adjusted EPS outlook, which is below the estimated value. This, along with the reduction in organic sales growth, could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100