Symbotic slumps on weak Q2 core earnings forecast

Symbotic

05/02/2024 22:57

** Shares of automation firm Symbotic  SYM.O  down 19.7% at
$39.84 in aftermarket trading 
    ** SYM forecasts adj. EBITDA of $12 mln - $15 mln for Q2,
much below analysts' expectation of ~$28 mln - LSEG
    ** Also forecasts Q2 revenue of $400 mln - $420 mln compared
with analysts' estimates of $403.4 mln 
    ** SYM stock rose more than 4 fold in 2023 

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))