Published on 2 May 2024 on GuruFocus.com via Yahoo Finance
Reported Revenue: $1.32 billion for Q1 2024, down 7% year-over-year, falling short of the estimated $1.373 billion.Net Income: Achieved $55.2 million, below the estimated $68.09 million and down from $72.0 million in Q1 2023.Earnings Per Share (EPS): Recorded at $0.52, below the estimated $0.65.Adjusted EPS: $0.69, above the basic EPS, reflecting adjustments for specific financial items.Cost Reduction: Progressed towards a $50 million cost reduction goal, with $20 million savings expected in 2024.Full-Year Outlook: Reaffirmed adjusted EPS forecast for 2024 in the range of $3.55 to $3.75.Free Cash Flow: Projected to be approximately $375 million for 2024, up from $356.7 million in 2023.
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