A.O. Smith shares are trading lower after the company reported mixed Q1 results and reaffirmed its FY24 net sales and adjusted EPS guidance, which were below estimates.
Portfolio Pulse from Benzinga Newsdesk
A.O. Smith's shares dropped following mixed Q1 results and a reaffirmation of its FY24 guidance, which fell short of expectations.
April 25, 2024 | 2:03 pm
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A.O. Smith's stock price is likely to face downward pressure in the short term due to mixed Q1 results and FY24 guidance that didn't meet analyst expectations.
Stock prices often react negatively to earnings reports and guidance that fall short of market expectations. A.O. Smith's reaffirmation of its FY24 guidance, which is below estimates, along with mixed Q1 results, suggests potential short-term bearish sentiment among investors.
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