Genesco Cuts FY24 Adjusted EPS To $0.65-$0.85 From Prior View Of $1.50-$2.00 (Consensus $1.73); Company Says "We Expect That We Will Be Near The Midpoint Of This Range"
Portfolio Pulse from Benzinga Newsdesk
Genesco Inc. has revised its FY24 adjusted EPS guidance downwards to $0.65-$0.85 from the previous estimate of $1.50-$2.00, which was above the consensus of $1.73. The company anticipates being near the midpoint of the new range.
January 08, 2024 | 11:56 am
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NEGATIVE IMPACT
Genesco Inc. has significantly lowered its FY24 adjusted EPS forecast, indicating potential challenges ahead that may affect investor confidence and stock performance.
The substantial reduction in Genesco's EPS guidance for FY24 suggests that the company may be facing operational or market challenges that could negatively impact its financial performance. This revision, being significantly lower than the consensus estimate, is likely to shake investor confidence and could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100