Vera Bradley Expects FY24 Revenues Of $472M-$478M Vs. $494.32M Estimate (Prior Outlook: $490M-$500M); Projects Consolidated diluted EPS of $0.56-$0.62 Vs. $0.60 Estimate (Prior Outlook: $0.57-$0.65 )
Portfolio Pulse from Benzinga Newsdesk
Vera Bradley has revised its FY24 revenue forecast to $472M-$478M, down from the previous range of $490M-$500M, falling short of the $494.32M estimate. The company also adjusted its projected consolidated diluted EPS to $0.56-$0.62, which is a narrower range compared to the prior outlook of $0.57-$0.65 and aligns with the $0.60 estimate.
December 06, 2023 | 1:07 pm
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Vera Bradley has lowered its FY24 revenue and EPS forecasts, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
The reduction in both revenue and EPS guidance by Vera Bradley is typically seen as a negative signal by the market, suggesting that the company may be facing headwinds that could affect its financial performance. This often results in a decrease in stock price as investors adjust their expectations. The alignment of the EPS forecast with the estimate may provide some stability, but the lower revenue projection is likely to have a more significant impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100