Array Technologies Sees FY24 Revenue $1.25B-$1.4B vs $1.86B Est., Adj. EPS $1.00-$1.15 vs $1.27 Est.
Portfolio Pulse from Benzinga Newsdesk
Array Technologies forecasts its FY24 revenue to be between $1.25B and $1.4B, which is below the estimated $1.86B. Additionally, its adjusted EPS is expected to be between $1.00 and $1.15, also lower than the estimated $1.27.
February 27, 2024 | 10:36 pm
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NEGATIVE IMPACT
Array Technologies forecasts lower FY24 revenue and adjusted EPS than estimated, indicating potential challenges ahead.
Array Technologies' forecast of lower revenue and adjusted EPS for FY24 compared to estimates suggests potential operational or market challenges that could negatively impact its stock price in the short term. Investors typically react negatively to earnings forecasts that fall short of expectations, which can lead to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100