Lear Cuts FY24 Net Sales Outlook To $22.950B-$23.150B Vs. $23.41B Estimate (Prior View: $23.23B-$23.67B)
Portfolio Pulse from Nabaparna Bhattacharya
Lear Corporation has revised its fiscal year 2024 net sales outlook to a range of $22.950 billion to $23.150 billion, down from the previous estimate of $23.23 billion to $23.67 billion. This adjustment is based on exchange rate assumptions of $1.085/Euro and 7.20 RMB/$. The new outlook is below the market estimate of $23.41 billion.
October 24, 2024 | 10:14 am
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NEGATIVE IMPACT
Lear Corporation has lowered its FY24 net sales outlook to $22.950B-$23.150B, which is below the market estimate of $23.41B. This revision may impact investor sentiment negatively.
Lear's revised sales outlook is below both its previous guidance and market expectations, which could lead to a negative reaction from investors. The adjustment reflects changes in exchange rate assumptions, indicating potential challenges in international markets.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100