InTest Cuts FY24 Revenue From $145M-$155M To $140M-$150M Vs $149.797M Est.
Portfolio Pulse from Benzinga Newsdesk
InTest Corporation has revised its FY24 revenue forecast downwards from the previously projected range of $145M-$155M to a new range of $140M-$150M, compared to the market estimate of $149.797M.
May 06, 2024 | 8:53 pm
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InTest Corporation has lowered its FY24 revenue outlook, now expecting revenues to be in the range of $140M-$150M, which is below the analysts' expectations of $149.797M.
The downward revision of the FY24 revenue forecast by InTest Corporation directly impacts investor sentiment and the company's stock price. A lower-than-expected revenue projection, especially when it falls below market estimates, typically leads to negative investor perception and can cause the stock price to drop in the short term. The significant relevance and importance of this news stem from its direct relation to the company's financial health and future performance expectations.
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