Grove Cuts FY24 Net Revenue Outlook From $215M - $225M To $205M - $215M, Est $219.868M
Portfolio Pulse from Benzinga Newsdesk
Grove has revised its FY24 net revenue outlook downwards from $215M-$225M to $205M-$215M, which is below the estimated $219.868M. However, the company has increased its adjusted EBITDA margin forecast to 0.5%-1.5% from the previous 0%-1.0%.
August 08, 2024 | 9:54 pm
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Grove has lowered its FY24 net revenue outlook to $205M-$215M, below the estimated $219.868M. However, the company has increased its adjusted EBITDA margin forecast to 0.5%-1.5%.
The downward revision of the revenue outlook is likely to negatively impact investor sentiment in the short term, as it falls below market estimates. However, the increase in the adjusted EBITDA margin forecast may provide some positive offset.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100