Stoneridge Cuts FY24 Revenue Guidance From $990M - $1.01B To $940M - $970M ($991.884M), Adjusted EPS To $0.18 - $0.28 (Est $0.15)
Portfolio Pulse from Benzinga Newsdesk
Stoneridge has revised its FY24 revenue guidance downwards from $990M-$1.01B to $940M-$970M, citing factors such as updated FX rates, OEM production volumes, and potential volatility in non-OEM and customer demand-based products. Adjusted EPS guidance has been updated to $0.18-$0.28, higher than the estimated $0.15.
July 31, 2024 | 10:16 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Stoneridge has reduced its FY24 revenue guidance to $940M-$970M and adjusted EPS to $0.18-$0.28, citing factors such as updated FX rates, OEM production volumes, and potential volatility in non-OEM and customer demand-based products.
The downward revision in revenue guidance and the adjusted EPS, despite being higher than estimates, indicates potential challenges in the market. This could lead to a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100