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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100