Stevanato Updates 2024 Guidance Primarily Due To A More Pronounced Impact From Ongoing Industry-Wide Destocking In Q1 And A More Gradual Recovery In Vials, As Well As The Postponement Of Expected Orders From A Key Customer
Portfolio Pulse from Benzinga Newsdesk
Stevanato has revised its 2024 guidance downwards, attributing the change to a more significant impact from industry-wide destocking in Q1 and a slower recovery in vials demand. Additionally, the postponement of expected orders from a key customer has contributed to this updated outlook.
May 09, 2024 | 10:30 am
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Stevanato's updated 2024 guidance reflects challenges including significant industry-wide destocking, slower recovery in vials demand, and postponed orders from a key customer.
The downward revision in Stevanato's 2024 guidance is directly linked to operational challenges and delayed revenue from key orders. This news is likely to negatively impact investor sentiment and the stock price in the short term, as it indicates potential revenue and growth challenges.
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