Teledyne Technologies shares are trading lower after the company reported worse-than-expected Q1 financial results, issued Q2 adjusted EPS guidance below estimates and cut FY24 adjusted EPS guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Teledyne Technologies reported disappointing Q1 financial results, with Q2 adjusted EPS guidance and FY24 adjusted EPS guidance both falling below estimates, leading to a decline in its share price.
April 24, 2024 | 12:22 pm
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Teledyne Technologies' shares are trading lower due to disappointing Q1 financial results and reduced future earnings guidance.
The direct mention of Teledyne Technologies' worse-than-expected Q1 financial performance and the lowering of both Q2 adjusted EPS and FY24 adjusted EPS guidance are clear indicators of negative sentiment towards the company's short-term financial health and growth prospects. This typically results in a decrease in share price as investors adjust their expectations based on the new guidance.
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