Eurofins says independent audit refutes short seller's allegations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Reuters
Audit Findings: Eurofins Scientific's independent audit by Ernst & Young found no material misstatements in its cash statements, countering allegations from short seller Muddy Waters that had previously caused a significant drop in share prices.
Revenue Guidance Adjustment: Despite the positive audit results, Eurofins slightly reduced its revenue guidance for the year to approximately 7 billion euros, down from an earlier forecast of between 7.075 billion and 7.175 billion euros.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
