Mercury Systems falls on downbeat FY 2024 profit forecast

Mercury Systems

15/08/2023 21:39

** Shares of technology company Mercury Systems  MRCY.O 
fall 8% to $31.13 after the bell  
    ** Co posts fiscal year 2023 rev of $973.9 mln vs. analysts'
avg. estimate of $1 bln - Refinitiv
    ** Co forecasts fiscal year 2024 adj. EPS of about $1.14 to
$1.48, below est. of $1.76 per share
    ** Co expects FY 2024 rev to be in the range of $950 mln to
$1.00 bln compared with analysts' avg. est. of $1.05 bln 
    ** MRCY appoints Bill Ballhaus as President and CEO
    ** Up to last close, stock had fallen ~24% this year

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))