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Investing.com -- Rai Way shares fell 6.2% on Friday after the company reset its 2027 outlook despite reporting third-quarter results that exceeded analyst expectations.
The company posted solid third-quarter numbers with a 2.5% beat on EBITDAaL compared to consensus estimates and a strong 15% beat on recurrent free cash flow.
While Rai Way reaffirmed its 2025 outlook, management announced a reset of its 2027 projections.
The company now anticipates a low to mid-single-digit shortfall on its 2027 EBITDAaL outlook due to delays in obtaining permits for hyper-scaler and photovoltaic plant projects, along with slower than expected adoption of Edge DC/CDN services.
The company indicated that this shortfall could be offset by adjustments in capital expenditure phasing and potentially other new mitigating initiatives. The unexpected revision to longer-term guidance may lead to negative consensus earnings revisions for the company.
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