Coherent Revises FY24 Revenue Outlook From $4.5B-$4.7B To $4.55B-$4.70B (Est $4.59B); Boosts Adj. EPS Outlook From $1.00-$1.50 To $1.30-$1.70 (Est $1.28)
Portfolio Pulse from Benzinga Newsdesk
Coherent has updated its FY24 revenue forecast, raising the lower end from $4.5B to $4.55B, with the range now $4.55B-$4.70B, slightly above the estimated $4.59B. Additionally, the company increased its adjusted EPS outlook from $1.00-$1.50 to $1.30-$1.70, surpassing the estimated $1.28. This adjustment reflects a positive shift in Coherent's financial expectations.
February 05, 2024 | 10:49 pm
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POSITIVE IMPACT
Coherent has revised its FY24 revenue and adjusted EPS forecasts upwards, indicating a positive outlook on its financial performance.
Coherent's upward revision of both revenue and EPS forecasts for FY24 suggests the company is experiencing stronger financial health and growth prospects than previously anticipated. This positive adjustment is likely to instill investor confidence and could lead to an increase in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100