CarParts.com Lowers FY24 Revenue Guidance From $662M-$688M To $600M-$625M Vs $673.35M Est.
Portfolio Pulse from Benzinga Newsdesk
CarParts.com has revised its FY24 revenue guidance downwards from the previously estimated range of $662M-$688M to a new range of $600M-$625M, against analysts' expectations of $673.35M. However, the company expects to maintain its gross profit within the previously forecasted range, with an improved gross margin forecast of 33%, plus or minus 100 basis points, compared to the earlier 31%.
May 07, 2024 | 10:11 pm
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CarParts.com has lowered its FY24 revenue guidance to $600M-$625M, below the expected $673.35M, but aims for a higher gross margin of 33%.
Lowering revenue guidance typically results in negative investor sentiment as it suggests potential challenges in achieving sales targets. However, the commitment to improving gross margins might partially mitigate negative perceptions by indicating efforts to enhance profitability.
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