Solo Brands For 2024 Revised Revenue Outlook To $470M-$490M (From $490M-$510M Prior) Vs. $499.77M Consensus, And Adjusted EBITDA Of 9%-10%
Portfolio Pulse from Benzinga Newsdesk
Solo Brands has revised its 2024 revenue outlook to $470M-$490M from the previous $490M-$510M, which is below the consensus of $499.77M. The company also projects an adjusted EBITDA of 9%-10%. CEO Chris Metz cited a challenging third quarter and an uncertain macroeconomic environment as reasons for the lowered guidance.
August 07, 2024 | 10:56 am
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Solo Brands has lowered its 2024 revenue outlook to $470M-$490M from the previous $490M-$510M, which is below the consensus of $499.77M. The company also projects an adjusted EBITDA of 9%-10%. CEO Chris Metz cited a challenging third quarter and an uncertain macroeconomic environment as reasons for the lowered guidance.
The lowered revenue outlook and adjusted EBITDA projection indicate potential financial challenges for Solo Brands. This revision is likely to negatively impact investor sentiment and the stock price in the short term.
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