Resideo Continues To Expect FY24 Net Revenue Of $6.08B-$6.28B (Est $6.157B), Raises Adj EPS Forecast From $1.48-$1.88 To $1.90-$2.30 (Est $1.65)
Portfolio Pulse from Benzinga Newsdesk
Resideo Technologies, Inc. has reaffirmed its full-year 2024 net revenue forecast to be in the range of $6.08 billion to $6.28 billion, aligning with analysts' expectations of approximately $6.157 billion. Additionally, the company has raised its adjusted earnings per share (EPS) forecast from the previously estimated range of $1.48-$1.88 to a new range of $1.90-$2.30, surpassing the analysts' consensus of $1.65.
May 02, 2024 | 9:28 pm
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Resideo Technologies, Inc. has updated its FY24 financial outlook, maintaining its net revenue forecast and significantly raising its adjusted EPS guidance above analysts' expectations.
Resideo's reaffirmation of its revenue forecast and the increase in its EPS guidance could lead to positive investor sentiment. The upward adjustment in EPS, especially when it exceeds analysts' expectations, is typically viewed favorably by the market, potentially leading to a short-term increase in stock price.
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