MGP Ingredients Lowers FY24 Outlook: Sees Sales Of $695M-$705M Vs. $699.26M Estimate (Prior View: $742M-$756M); Projects Adjusted EPS Of $5.55-$5.65 Vs. $5.57 Estimate (Prior View: $6.12-$6.23)
Portfolio Pulse from Benzinga Newsdesk
MGP Ingredients has revised its fiscal year 2024 outlook, lowering its sales projection to $695M-$705M from a previous range of $742M-$756M. The company also adjusted its EPS forecast to $5.55-$5.65, down from $6.12-$6.23.
October 31, 2024 | 11:40 am
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MGP Ingredients has lowered its FY24 sales and EPS outlook, indicating potential challenges in meeting previous financial expectations.
The downward revision in both sales and EPS forecasts suggests that MGP Ingredients is facing challenges that could impact its financial performance. This is likely to lead to a negative short-term reaction in the stock price as investors adjust their expectations.
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