Uniti Group Lowers FY2024 FFO Guidance from $1.33-1.40 to $1.23-1.30 vs $1.35 Est; Raises FY2024 Sales Guidance from $1.15B-1.17B to $1.16B-1.18B vs $1.17B Est
Portfolio Pulse from Benzinga Newsdesk
Uniti Group has adjusted its FY2024 financial guidance, lowering its Funds From Operations (FFO) forecast while slightly raising its sales outlook. The FFO guidance is now set at $1.23-$1.30, down from $1.33-$1.40, and below the $1.35 analyst estimate. Meanwhile, sales guidance has been increased to $1.16B-$1.18B, slightly above the previous range and the $1.17B estimate.
October 31, 2024 | 12:07 pm
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Uniti Group has revised its FY2024 guidance, lowering FFO expectations to $1.23-$1.30, which is below the analyst estimate of $1.35. However, the company has raised its sales guidance to $1.16B-$1.18B, slightly above the previous range and the analyst estimate of $1.17B.
The reduction in FFO guidance is likely to have a negative impact on Uniti Group's stock price as it falls below analyst expectations, indicating potential challenges in profitability. The slight increase in sales guidance may not be enough to offset the negative sentiment from the lowered FFO outlook.
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IMPORTANCE 80
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