L.B. Foster Revises FY24 Net Sales Forecast From $525M - $560M To $525M - $550M, Est $541.335M
Portfolio Pulse from Benzinga Newsdesk
L.B. Foster has revised its FY24 net sales forecast to a range of $525M to $550M, down from the previous range of $525M to $560M. Adjusted EBITDA is now expected to be between $34M and $37M, with free cash flow expected to be breakeven. The revised guidance reflects the impact of a restructuring program.
August 06, 2024 | 12:10 pm
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L.B. Foster has revised its FY24 net sales forecast to a range of $525M to $550M, down from the previous range of $525M to $560M. Adjusted EBITDA is now expected to be between $34M and $37M, with free cash flow expected to be breakeven. The revised guidance reflects the impact of a restructuring program.
The downward revision in net sales forecast and adjusted EBITDA growth indicates potential challenges in achieving previous targets. This could lead to a negative short-term impact on the stock price as investors may react to the lowered expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100