inTEST Cuts FY23 Revenue Guidance From $127M - $131M To $125M - $127M Vs. $129.5M Est.
Portfolio Pulse from Benzinga Newsdesk
inTEST has reduced its FY23 revenue guidance from $127M - $131M to $125M - $127M, which is lower than the estimated $129.5M.
November 03, 2023 | 10:37 am
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NEGATIVE IMPACT
inTEST's lowered revenue guidance for FY23 may negatively impact its stock price in the short term.
Companies often see their stock prices fall when they lower their revenue guidance, as it suggests that they may not perform as well as previously expected. In this case, inTEST's new guidance is even lower than the estimated $129.5M, which could further disappoint investors and put downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100