Cognex Corp Expects Q1 Revenue of $190M-$205M Vs $211.56M Est
Portfolio Pulse from Benzinga Newsdesk
Cognex Corp projects Q1 revenue to be between $190M-$205M, below the estimated $211.56M. The forecast reflects challenges but a stable operating environment, with Moritex contributing 6-8% of revenue. Adjusted gross margin is expected in the high-60% range, with specific impacts from de-leverage, negative revenue mix, Moritex, and a strategic logistics project. Operating expenses are anticipated to rise due to various investments, while the adjusted effective tax rate is expected at 16%.
February 15, 2024 | 11:09 am
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Cognex Corp expects Q1 revenue to fall short of estimates, with adjusted gross margin and operating expenses impacted by strategic investments and challenges.
Cognex's revenue forecast falling below estimates indicates potential short-term negative sentiment among investors. The detailed impacts on margins and expenses due to strategic investments and operational challenges further suggest potential pressure on profitability, leading to a negative outlook for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100