Franklin Covey Stock Rises After-Hours On Q1 Earnings Win Before Turning Lower
Portfolio Pulse from Ryan Gustafson
Franklin Covey Company (NYSE:FC) reported Q1 earnings of 36 cents per share, surpassing estimates of 23 cents and up from 32 cents the previous year. Revenue was $68.40 million, above the $65.88 million estimate but down 1.40% from last year's $69.37 million. Operating cash flows increased to $17.4 million from $3.0 million. Despite the positive results, FC shares fell 5.51% after-hours to $37.20. The company maintains its adjusted EBITDA growth target for FY 2024.
January 04, 2024 | 10:39 pm
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Franklin Covey exceeded Q1 earnings and revenue estimates but experienced a 5.51% drop in after-hours trading to $37.20. The company remains confident in its FY 2024 EBITDA growth target.
The initial positive reaction to the earnings beat was overshadowed by a subsequent drop in after-hours trading, likely due to the revenue decrease compared to last year and market dynamics. The company's reaffirmation of its EBITDA target for FY 2024 suggests confidence in its financial trajectory, but the immediate market reaction was negative.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100