MGP Ingredients Lowers FY24 Adj. EPS Guidance From $6.12-$6.23 To $5.55-$5.65 vs $6.24 Est., Lowers Sales Guidance From $742M-$756M To $695M-$705M vs $755.251M
Portfolio Pulse from Benzinga Newsdesk
MGP Ingredients has revised its fiscal year 2024 guidance, lowering its adjusted EPS from $6.12-$6.23 to $5.55-$5.65, and its sales guidance from $742M-$756M to $695M-$705M. This is below the market estimates of $6.24 for EPS and $755.251M for sales.
October 17, 2024 | 8:13 pm
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NEGATIVE IMPACT
MGP Ingredients has lowered its FY24 adjusted EPS and sales guidance, both of which are below market expectations. This could negatively impact investor sentiment and the stock price in the short term.
The downward revision in both EPS and sales guidance indicates potential challenges in MGP Ingredients' business operations or market conditions. The new guidance figures are below analyst estimates, which could lead to a negative reaction from investors and a potential decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100