01:09 PM EDT, 05/02/2024 (MT Newswires) -- XPEL ( XPEL ) shares retreated past 32% in recent Thursday trading after the company reported lower Q1 earnings and revised its annual revenue growth projection downward.

The company reported Q1 earnings Thursday of $0.24 per diluted share, down from $0.41 a year earlier.

Two analysts polled by Capital IQ expected $0.31.

Revenue for the quarter ended March 31 was $90.1 million, up from $85.8 million a year earlier.

Two analysts surveyed by Capital IQ expected $94.1 million.

The company said it now expects 2024 revenue growth of 8% to 10%, down from its previous outlook of 15%.

Price: 36.32, Change: -17.48, Percent Change: -32.49