Masimo Revises FY24 Adjusted EPS Guidance To $3.44-$3.60 From $3.00-$3.15 Versus Consensus Of $3.08
Portfolio Pulse from Benzinga Newsdesk
Masimo Corporation has revised its FY24 adjusted EPS guidance upwards to $3.44-$3.60 from the previous range of $3.00-$3.15, surpassing the consensus estimate of $3.08. The company has updated its non-GAAP financial measures to exclude all litigation expenses against Apple, expanding the exclusion beyond just the U.S. International Trade Commission litigation costs. Masimo believes these expenses are unique and not reflective of ongoing operations, and has provided reconciliations for investors.
January 10, 2024 | 1:13 pm
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POSITIVE IMPACT
Masimo Corporation has raised its FY24 adjusted EPS guidance significantly above analyst expectations, which could lead to increased investor confidence and a potential rise in stock price in the short term.
The upward revision of Masimo's EPS guidance suggests a stronger financial outlook than previously anticipated, which is likely to be viewed positively by investors. The exclusion of litigation costs against Apple from non-GAAP measures may also be seen as a move towards greater financial transparency, potentially bolstering investor sentiment. Given that the new guidance exceeds the consensus estimate, this news is likely to have a positive impact on Masimo's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100