i3 Verticals Cuts FY24 Revenue Outlook From $385M-$400M To $380M-$394M (Est $393.904M), Adj EPS From $1.52-$1.64 To $1.49-$1.57 (Est $1.59)
Portfolio Pulse from Benzinga Newsdesk
i3 Verticals has revised its FY24 revenue and adjusted EPS forecasts downwards. The new revenue range is $380M-$394M, down from the previous $385M-$400M, with analysts' expectations at $393.904M. Adjusted EPS projections have also been lowered from $1.52-$1.64 to $1.49-$1.57, against an estimated $1.59.
May 10, 2024 | 11:10 am
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i3 Verticals has lowered its FY24 revenue and adjusted EPS outlook, indicating potential challenges ahead that could impact investor sentiment and stock price.
The downward revision in both revenue and EPS forecasts for FY24 by i3 Verticals suggests the company might be facing operational or market challenges. This adjustment, especially when it falls below analysts' expectations, is likely to negatively affect investor sentiment and could lead to a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100