Globalstar Sees FY24 Total Revenue Between $225M-$250M Vs $251.5M Est.
Portfolio Pulse from Benzinga Newsdesk
Globalstar projects its FY24 total revenue to be between $225M-$250M, which is below the estimated $251.5M. The company also forecasts an adjusted EBITDA margin of approximately 50%.
February 28, 2024 | 1:16 pm
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NEGATIVE IMPACT
Globalstar anticipates FY24 revenues to fall short of the $251.5M estimate, aiming for $225M-$250M, alongside a 50% adjusted EBITDA margin.
The projected revenue falling short of the market estimate suggests potential challenges in meeting financial targets, which could negatively impact investor sentiment and stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100