The Manitowoc Company Updates FY24 EPS Guidance From $0.95-$1.55 To $0.45-$0.90 Vs $1.17 Est.; Revenue From $2.275B-$2.375B To $2.175B-$2.225B Vs $2.28B Est.
Portfolio Pulse from Benzinga Newsdesk
The Manitowoc Company has updated its full-year 2024 guidance, lowering its EPS forecast from $0.95-$1.55 to $0.45-$0.90 and revenue forecast from $2.275B-$2.375B to $2.175B-$2.225B. Adjusted EBITDA, depreciation, interest expense, and other financial metrics have also been revised.
August 07, 2024 | 9:38 pm
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Manitowoc Company has significantly lowered its full-year 2024 EPS and revenue guidance, indicating potential challenges ahead. The revised EPS guidance is now $0.45-$0.90, down from $0.95-$1.55, and revenue is expected to be $2.175B-$2.225B, down from $2.275B-$2.375B.
The significant downward revision in EPS and revenue guidance suggests that Manitowoc is facing financial challenges, which is likely to negatively impact investor sentiment and the stock price in the short term.
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