Harvard Bioscience Cuts FY24 Revenue Outlook To $97M - $102M ($111.95M), In Light Of Delayed Market Recovery (Prior Outlook: Flat Y/Y)
Portfolio Pulse from Benzinga Newsdesk
Harvard Bioscience has revised its FY24 revenue outlook to $97M - $102M, down from the previous estimate of $111.95M, due to delayed market recovery. The company expects a full-year gross margin of 59% to 60% and an adjusted EBITDA margin in the high single digits.
August 08, 2024 | 12:39 pm
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Harvard Bioscience has lowered its FY24 revenue outlook to $97M - $102M from $111.95M, citing delayed market recovery. The company also projects a gross margin of 59% to 60% and an adjusted EBITDA margin in the high single digits.
The downward revision in revenue outlook indicates potential challenges in market recovery, which could negatively impact investor sentiment and short-term stock price. However, the stable gross margin and adjusted EBITDA margin provide some reassurance.
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