Cadence Sees FY24 Adj. EPS $5.88-$5.98 vs $5.94 Est., Revenue $4.56B-$4.62B vs $4.59B Est.; Sees Q2 Adj. EPS $1.20-$1.24 vs $1.43 Est., Revenue $1.03B-$1.05B vs $1.11B Est.
Portfolio Pulse from Benzinga Newsdesk
Cadence forecasts FY24 adjusted EPS of $5.88-$5.98, slightly below the $5.94 estimate, with revenue projections of $4.56B-$4.62B, aligning with the $4.59B estimate. For Q2, the company expects adjusted EPS of $1.20-$1.24, below the $1.43 estimate, and revenue of $1.03B-$1.05B, under the $1.11B estimate.
April 22, 2024 | 8:05 pm
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NEGATIVE IMPACT
Cadence projects FY24 EPS below estimates and anticipates lower Q2 earnings and revenue than expected.
Cadence's forecasted FY24 EPS and Q2 earnings and revenue below analyst estimates could lead to negative investor sentiment and potential short-term stock price pressure. The company's guidance, especially for the upcoming quarter, being lower than expected, indicates potential challenges ahead, which could impact investor confidence and stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100