Endava Expects 2024 Revenue Of £722M-£735M, And Adjusted EPS Of £1.09-£1.22; The Company Sees Q3 Revenue Of £174M-£176M, And Adjusted EPS Of £0.17-£0.19
Portfolio Pulse from Benzinga Newsdesk
Endava forecasts a decrease in constant currency revenue for both Q3 and the full fiscal year 2024, with Q3 revenue expected between £174M-£176M, and full-year revenue projected at £722M-£735M. Adjusted EPS for Q3 is anticipated to be £0.17-£0.19, while the full-year adjusted EPS is expected to range from £1.09 to £1.22.
February 29, 2024 | 12:21 pm
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Endava expects a year-over-year decrease in constant currency revenue for Q3 and FY2024, with adjusted EPS projections indicating a cautious outlook.
The projected decrease in constant currency revenue for both the third quarter and the full fiscal year 2024 suggests a challenging economic environment for Endava. This outlook, especially when revenues are expected to decline year over year, could lead to negative investor sentiment in the short term. The adjusted EPS range, while providing some clarity, also indicates a cautious stance on profitability, further contributing to potential downward pressure on the stock price.
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