Jabil shares are trading lower after the company updated Q1, Q2 and FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Jabil Inc. has revised its revenue guidance for Q1, Q2, and the full fiscal year 2024 below analyst estimates, causing its shares to trade lower.
November 28, 2023 | 9:24 pm
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NEGATIVE IMPACT
Jabil Inc. has lowered its revenue forecasts for Q1, Q2, and FY24, which is likely to negatively impact investor sentiment and the stock price in the short term.
When a company announces revenue guidance that is below market estimates, it often leads to a decrease in investor confidence and a subsequent drop in the stock price. Jabil's revised guidance suggests that the company may face challenges in meeting its previous revenue targets, which can be interpreted as a negative signal about its future financial performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100