Array Technologies Sees FY23 EPS $1.00-$1.05 Vs $1.00 Est.; Revenue $1.525B-$1.575B Vs $1.7B Est.
Portfolio Pulse from Benzinga Newsdesk
Array Technologies has provided its full year 2023 guidance, expecting revenue to be in the range of $1,525 million to $1,575 million, and adjusted net income per share to be in the range of $1.00 to $1.05. These figures are lower than the estimated revenue of $1.7 billion and EPS of $1.00.
November 07, 2023 | 9:45 pm
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NEGATIVE IMPACT
Array Technologies' lower than expected revenue and EPS guidance for FY23 may negatively impact its stock price in the short term.
Investors often react to a company's guidance, especially when it is lower than expected. In this case, Array Technologies' lower than expected revenue and EPS for FY23 could lead to a decrease in its stock price as it indicates potential future underperformance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100