Novanta Expects FY23 GAAP Revenue Of $878M-$882M Vs. $899.33M Estimate (Prior View: $892M-$902M); Sees FY23 Adjusted Diluted EPS Of $2.98-$3.05 Vs. 3.08 Estimate (Prior View: $2.96-$3.15)
Portfolio Pulse from Benzinga Newsdesk
Novanta has revised its FY23 GAAP revenue forecast to $878M-$882M, down from the previous estimate of $892M-$902M and below the $899.33M market estimate. The company also adjusted its FY23 diluted EPS forecast to $2.98-$3.05, slightly below the $3.08 market estimate but within the previous range of $2.96-$3.15.
November 07, 2023 | 12:11 pm
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NEGATIVE IMPACT
Novanta's revised FY23 GAAP revenue and EPS forecasts are both below market estimates, which could negatively impact the company's stock price in the short term.
Novanta's revised FY23 GAAP revenue and EPS forecasts are both below market estimates. This could lead to a negative sentiment among investors, potentially causing a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100