Revolution Lighting Cuts Revenue Guidance Due to Hurricane Impact; Shares Drop 4% Pre-Bell

Revolution Lighting Technologies (RVLT) shares were lower 4% in recent pre-market trade after the company said Friday that it now expects Q3 revenues to range from $42 million to $44 million, down from prior guidance of $52 million to $55 million, and below the $51.8 million estimate from two analysts polled by Capital IQ.

The revision is the result of a number of projects shifting to Q4 due to the impact of the recent hurricane events.

EBITDA in Q3 is expected to be in the 5% to 6% range.

For Q4, the company expects revenues to range from $60 million to $65 million, below the $74.4 million average estimate from two analysts.

For 2017, the company now expects revenues to range from $180 million to $185 million versus prior guidance of $195 million to $205 million and below the two-analyst estimate of $237.6 million.

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