inTEST Updates Full Year 2024 Guidance Due To Alfamation Acquisition; Boosts 2024 Revenue Outlook From $125M-$130M To $145M-$155M; Est $125.795M
Portfolio Pulse from Benzinga Newsdesk
inTEST Corporation has updated its full year 2024 revenue guidance following the acquisition of Alfamation, raising the forecast from $125M-$130M to $145M-$155M. The acquisition is expected to be dilutive to 2024 earnings per diluted share but accretive to non-GAAP adjusted EPS, mainly due to amortization of intangible assets. The impact on Q1 2024 results is expected to be nominal.

March 12, 2024 | 8:23 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
inTEST Corporation has raised its 2024 revenue forecast to $145M-$155M due to the Alfamation acquisition. The acquisition is expected to dilute 2024 EPS but be accretive to non-GAAP adjusted EPS.
The updated revenue guidance indicates a positive outlook for inTEST's financial performance following the Alfamation acquisition. Although the acquisition is expected to dilute earnings per share, the accretion to non-GAAP adjusted EPS suggests that the financial impact may be favorable when excluding certain expenses like the amortization of intangible assets. This mixed impact suggests a generally positive short-term outlook for INTT's stock, as revenue growth is often a key driver of stock performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100