Drilling Tools Cuts FY24 Revenue Guidance From $170M - $185M To $155M - $170M, Est $174.294M
Portfolio Pulse from Benzinga Newsdesk
Drilling Tools has revised its FY24 revenue guidance downwards from $170M-$185M to $155M-$170M, while maintaining its adjusted free cash flow guidance at $20M-$25M.
August 06, 2024 | 10:19 am
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Drilling Tools has lowered its FY24 revenue guidance to $155M-$170M from the previous $170M-$185M, but is maintaining its adjusted free cash flow guidance at $20M-$25M.
The downward revision in revenue guidance is likely to negatively impact investor sentiment and the stock price in the short term, despite the maintained free cash flow guidance.
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