Garmin Sees FY24 Revenue $5.95B Vs $6.39B Estimate; Sees EPS $6.00 Vs $6.29 Estimate
Portfolio Pulse from Benzinga Newsdesk
Garmin has revised its FY24 revenue forecast to $5.95 billion, down from the previous estimate of $6.39 billion. The company also adjusted its EPS forecast to $6.00, compared to the earlier estimate of $6.29.
July 31, 2024 | 11:04 am
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NEGATIVE IMPACT
Garmin has lowered its FY24 revenue forecast to $5.95 billion and its EPS forecast to $6.00, both below previous estimates. This revision may negatively impact investor sentiment and the stock price in the short term.
The downward revision in both revenue and EPS forecasts indicates potential challenges in Garmin's business performance. This is likely to lead to negative investor sentiment and a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100