PetIQ Expects Q2 Net Sales Of $325M-$335M (Est $335.976M), Raises FY24 Forecast From $1.130B-$1.180B To $1.135B-$1.185B (Est $1.149B)
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PetIQ anticipates Q2 net sales to be between $325M-$335M, slightly below the estimated $335.976M, but has raised its FY24 forecast from $1.130B-$1.180B to $1.135B-$1.185B, surpassing the estimated $1.149B. The company also expects Q2 adjusted EBITDA of $34.0M-$36.0M and FY24 adjusted EBITDA of $112.0M-$118.0M.
May 08, 2024 | 9:20 pm
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PetIQ has adjusted its Q2 net sales forecast to $325M-$335M, below the estimated $335.976M, and raised its FY24 revenue forecast to $1.135B-$1.185B, above the estimated $1.149B. The company also expects an adjusted EBITDA of $34.0M-$36.0M for Q2 and $112.0M-$118.0M for FY24.
The slight miss in Q2 sales forecast compared to estimates might initially concern investors, but the upward revision of the FY24 revenue forecast suggests a positive outlook for the company's future performance. This could lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100