Tapestry Sees FY24 Revenue ~$6.6B Vs $6.73B Estimate, Sees EPS $4.20-$4.25 Vs $4.22 Estimate
Portfolio Pulse from Benzinga Newsdesk
Tapestry forecasts FY24 revenue to be around $6.6 billion, slightly below the $6.73 billion estimate, with EPS expected to be between $4.20 and $4.25, closely aligning with the $4.22 estimate. The company anticipates approximately 1% growth on a constant currency basis, an 8% to 9% increase in EPS compared to the previous year, and expects to generate about $1.1 billion in free cash flow, excluding deal-related costs.
May 09, 2024 | 10:53 am
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Tapestry expects FY24 revenue of ~$6.6B, slightly missing the $6.73B estimate, with an EPS forecast of $4.20-$4.25, aligning with the $4.22 estimate. The company anticipates 1% growth on a constant currency basis and an 8-9% increase in EPS, along with $1.1B in free cash flow, excluding deal costs.
Tapestry's revenue forecast slightly misses expectations, which could cause some investor concern, but the EPS forecast is in line with estimates, indicating operational efficiency and cost management. The anticipated growth in constant currency and EPS growth projections suggest a positive outlook, stabilizing the stock's short-term performance. The significant free cash flow projection, excluding deal-related costs, further supports financial health and operational stability.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100