The Real Good Food Expects FY23 Revenue Between $185M-$192M Vs. $191.17M Estimate (Prior View: least $200M); Introduces FY24 Revenue Outlook Of At Least $245M Vs. $243.32M Estimate
Portfolio Pulse from Benzinga Newsdesk
The Real Good Food Company (RGF) has updated its FY23 revenue forecast to be between $185M-$192M, which is lower than its previous expectation of at least $200M and slightly below the $191.17M estimate. Additionally, RGF introduced its FY24 revenue outlook, projecting at least $245M, which is marginally above the $243.32M estimate.
November 10, 2023 | 2:10 pm
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The Real Good Food Company has lowered its FY23 revenue forecast, now expecting $185M-$192M, below the prior view of $200M and the $191.17M estimate. However, the FY24 revenue outlook is positive, with expectations of at least $245M, surpassing the $243.32M estimate.
The downward revision of RGF's FY23 revenue forecast is likely to negatively impact investor sentiment in the short term, as it suggests a potential slowdown in growth or unmet expectations. This could lead to a decrease in stock price. However, the positive outlook for FY24 may mitigate some of the negative impact, as it indicates confidence in future growth.
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