Biote Sees Prelim. 2023 Revenue Of $185M-$187M vs Prior Forecast Of Lower End Of $190M-$200M Range
Portfolio Pulse from Benzinga Newsdesk
Biote Corp. has updated its preliminary revenue forecast for 2023, now expecting to generate between $185M-$187M. This is a decrease from the previous forecast, which was at the lower end of the $190M-$200M range.
January 17, 2024 | 9:08 pm
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Biote Corp. (BTMD) has lowered its revenue forecast for 2023, which may lead to negative investor sentiment and a potential decrease in stock price in the short term.
A downward revision in revenue forecasts typically leads to negative investor sentiment as it suggests that the company may not be performing as well as expected. This can result in a decrease in stock price as investors adjust their expectations for future growth and profitability.
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