Driven Brands Expects FY24 Revenues Between $2.35B-$2.45B Vs. $2.52B Estimate, Projects Adjusted EPS Between $0.88 - $1.00 Vs. $1.12 Estimate
Portfolio Pulse from Benzinga Newsdesk
Driven Brands projects its FY24 revenues to be in the range of $2.35B-$2.45B, which is below the estimated $2.52B. The company also forecasts its adjusted EPS to be between $0.88 and $1.00, lower than the $1.12 estimate.
February 22, 2024 | 11:52 am
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Driven Brands projects lower-than-expected FY24 revenues and adjusted EPS, indicating potential downward pressure on its stock price in the short term.
The projection of lower-than-expected revenues and EPS by Driven Brands can lead to negative investor sentiment, potentially causing a short-term decline in its stock price. Investors often react to earnings forecasts as they adjust their expectations for a company's future profitability.
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IMPORTANCE 90
RELEVANCE 100