Blackbaud Sees FY24 EPS $4.12-$4.38 Vs $4.57 Est.; Revenue $1.17B-$1.20 Vs $1.19B Est.
Portfolio Pulse from Benzinga Newsdesk
Blackbaud announced its FY24 financial guidance, projecting non-GAAP EPS of $4.12-$4.38, below the $4.57 estimate, and revenue of $1.17B-$1.20B, around the $1.19B estimate. The guidance includes assumptions such as a 24.5% tax rate, $34M-$38M interest expense, 53.5M-54.5M fully diluted shares, and $65M-$75M capital expenditures. Notably, the company expects $8M-$13M net cash outlays for ongoing legal fees related to a 2020 Security Incident.
February 12, 2024 | 9:42 pm
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NEGATIVE IMPACT
Blackbaud projects FY24 EPS below estimates and revenue in line with expectations, with additional costs due to a 2020 Security Incident.
The projected EPS being below analyst estimates could negatively impact investor sentiment towards BLKB in the short term. Additionally, ongoing legal fees related to the 2020 Security Incident may raise concerns about potential financial strain and focus on past security issues, further influencing the stock negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100