Polished.com Provides Corporate Updates To Previously Issued Guidance For Fiscal Year 2023; Lowers FY23 Revenue Guidance From $330M-$350M To $315M-$325M And EBITDA Below Its Previously Provided Estimate For FY23
Portfolio Pulse from Benzinga Newsdesk
Polished.com has revised its fiscal year 2023 revenue guidance downwards from the previously estimated range of $330M-$350M to $315M-$325M, and now expects EBITDA to be below its earlier forecast. The adjustment is attributed to ongoing macroeconomic challenges affecting consumer discretionary spending. The company highlights that these projections, made as of February 12, 2024, are subject to significant uncertainties including economic conditions, inflation, interest rates, and supply chain constraints.
February 13, 2024 | 4:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Polished.com has lowered its FY23 revenue guidance to $315M-$325M and anticipates EBITDA to fall below previous estimates, citing macroeconomic factors.
The downward revision in revenue and EBITDA guidance by Polished.com directly impacts investor expectations and sentiment towards POL. Given the reasons are macroeconomic in nature, it suggests broader market challenges that could affect the company's performance in the short term. This news is likely to negatively influence POL's stock price as investors adjust their expectations based on the new guidance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100