Interface Lowered FY23 Revenue To $1.245B-$1.265B From $1.285B - $1.310B Vs. $1.30B Est
Portfolio Pulse from Benzinga Newsdesk
Interface has revised its FY23 revenue forecast downwards to $1.245B-$1.265B from the previous $1.285B-$1.310B, against an estimate of $1.30B. The company also provided other financial projections for FY23, including an adjusted gross profit margin of 34.4%, adjusted SG&A expenses of $329 million, and capital expenditures of $32 million.
November 03, 2023 | 9:35 am
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Interface's downward revision of its FY23 revenue forecast could negatively impact its stock price in the short term.
Interface's downward revision of its FY23 revenue forecast indicates potential challenges in achieving its financial goals, which could negatively impact investor sentiment and lead to a decrease in its stock price.
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