Photronics shares are trading lower after the company reported worse-than-expected Q3 financila results and issued Q4 revenue guidance with its midpoint below estimates. Also, the company issued Q4 adjusted EPS guidance with its midpoint below estimates.
Portfolio Pulse from Benzinga Newsdesk
Photronics shares declined after the company reported disappointing Q3 financial results and issued Q4 revenue and EPS guidance below estimates.
August 29, 2024 | 12:39 pm
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Photronics shares are trading lower due to worse-than-expected Q3 financial results and Q4 guidance that falls below estimates.
The company's Q3 results were below expectations, and the guidance for Q4 revenue and EPS is also below estimates, which typically leads to a negative market reaction. This directly impacts the stock price negatively in the short term.
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