The Shyft Group Sees FY24 Sales To Be In The Range Of $800M-$850M Vs. $868.07M Estimate (Prior View: $850M To $900M); Projects Adjusted EPS Of $0.35-$0.50 Vs. $0.41 Estimate (Prior View: $0.28-$0.51)
Portfolio Pulse from Benzinga Newsdesk
The Shyft Group has revised its FY24 sales forecast to $800M-$850M, down from the previous $850M-$900M and below the $868.07M estimate. The company also projects adjusted EPS of $0.35-$0.50, compared to the $0.41 estimate and prior view of $0.28-$0.51.
July 25, 2024 | 11:53 am
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The Shyft Group has lowered its FY24 sales forecast to $800M-$850M, below the $868.07M estimate, and adjusted EPS to $0.35-$0.50, compared to the $0.41 estimate.
The downward revision in sales forecast and the adjusted EPS projection being below the estimate are likely to negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100