Allient Expects Annualized Revenue Run Rate Level Below $500M Over The Next Several Quarters
Portfolio Pulse from Benzinga Newsdesk
Allient expects its annualized revenue run rate to be below $500M over the next several quarters, with a return to normal run rates anticipated by mid-2025. The company also projects $5M in annual savings from manufacturing consolidation and streamlining efforts starting in the second half of 2024.
August 07, 2024 | 9:25 pm
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Allient expects its annualized revenue run rate to be below $500M over the next several quarters, with a return to normal run rates anticipated by mid-2025. The company also projects $5M in annual savings from manufacturing consolidation and streamlining efforts starting in the second half of 2024.
The news indicates a lower revenue run rate for the next several quarters, which is likely to negatively impact short-term stock prices. However, the projected savings from consolidation efforts may provide some positive outlook for the future.
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