Vontier Corporation Lowers FY24 Outlook: Sees Sales Of $2.90B-$3.00B Vs. 3.07B Estimate (Prior View: $3.04B-$3.10B), Projects Adjusted EPS Of $2.80-$3.00 Vs. $3.09 Estimate (Prior View: $3.00-$3.15)
Portfolio Pulse from Benzinga Newsdesk
Vontier Corporation has lowered its FY24 outlook, projecting sales between $2.90 billion and $3.00 billion, down from the previous estimate of $3.04 billion to $3.10 billion. The company also adjusted its EPS forecast to $2.80-$3.00, compared to the prior view of $3.00-$3.15.
August 01, 2024 | 10:38 am
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Vontier Corporation has revised its FY24 outlook downward, with sales now expected to be between $2.90 billion and $3.00 billion, and adjusted EPS forecasted at $2.80-$3.00. This is below previous estimates and may negatively impact investor sentiment.
The downward revision in both sales and EPS forecasts is likely to negatively impact Vontier Corporation's stock price in the short term. Investors typically react unfavorably to lowered guidance, especially when it falls below market estimates.
CONFIDENCE 95
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RELEVANCE 100