NOV Revises FY24 Consolidated Company Revenue Growth Forecast To Low- To Mid-Single Digit Percent Range (Prior View Mid-Single Percentage Range)
Portfolio Pulse from Benzinga Newsdesk
NOV has revised its FY24 consolidated company revenue growth forecast to a low- to mid-single digit percent range, down from the prior mid-single percentage range. The company also adjusted its full-year 2024 Adjusted EBITDA forecast to $1.10 billion to $1.18 billion, from the previous range of $1.10 billion to $1.25 billion.
July 25, 2024 | 10:07 pm
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NOV has revised its FY24 revenue growth forecast to a lower range and narrowed its Adjusted EBITDA forecast. This indicates potential challenges in achieving higher growth and profitability.
The downward revision in revenue growth forecast and the narrowing of the Adjusted EBITDA range suggest that NOV may face challenges in achieving higher growth and profitability. This could lead to a negative short-term impact on the stock price as investors adjust their expectations.
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