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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100