Methode Electronics Continues To Expect FY24 Net Sales Of $1.14B-$1.18B, Cuts Adjusted EPS Outlook From $0.88-$1.08 To $0.24-$0.50
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics has updated its financial outlook for FY24, maintaining its net sales projection of $1.14B-$1.18B but reducing its adjusted EPS forecast from $0.88-$1.08 to $0.24-$0.50.
December 07, 2023 | 12:14 pm
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Methode Electronics has maintained its FY24 sales forecast but significantly cut its adjusted EPS expectations, which could negatively impact investor sentiment and stock price.
The reduction in the adjusted EPS forecast is a significant change that suggests Methode Electronics is facing challenges that could affect profitability. This revision is likely to be viewed negatively by investors as it indicates lower expected earnings, which can lead to a decrease in stock price in the short term.
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IMPORTANCE 90
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