Microchip Sees Q4 2024 Revenue $1.225B-$1.425B Vs $1.661B Estimate, Sees Adj. EPS $0.33-$0.36 Vs $0.92 Estimate
Portfolio Pulse from Benzinga Newsdesk
Microchip Technology Incorporated (MCHP) forecasts Q4 2024 revenue to be between $1.225B and $1.425B, significantly lower than the analyst estimate of $1.661B. Additionally, the company projects its adjusted earnings per share (EPS) to be in the range of $0.33 to $0.36, which is also below the expected $0.92.
February 01, 2024 | 9:19 pm
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Microchip Technology Incorporated (MCHP) anticipates lower-than-expected Q4 2024 revenue and adjusted EPS, which are both significantly below analyst estimates.
Microchip Technology's forecast of lower revenue and EPS for Q4 2024 compared to analyst expectations is likely to negatively impact investor sentiment and the stock price in the short term. The significant discrepancy between the company's projections and analyst estimates suggests a potential downturn in business performance or market conditions affecting the company, which could lead to a decrease in stock price as investors adjust their expectations.
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