Corpay Sees FY24 Adj. EPS $18.80-$19.20 Vs $19.39 Est.; Revenue $3.960B-$4.040B Vs $4.078B Est.
Portfolio Pulse from Benzinga Newsdesk
Corpay forecasts its FY24 adjusted EPS to be between $18.80 and $19.20, which is below the estimated $19.39. The company also projects its revenue to range from $3.960 billion to $4.040 billion, falling short of the expected $4.078 billion.
May 08, 2024 | 9:13 pm
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Corpay projects lower-than-expected FY24 adjusted EPS and revenue, indicating potential challenges ahead.
Corpay's projection of both adjusted EPS and revenue for FY24 below analysts' expectations suggests potential headwinds or operational challenges that could negatively impact its stock price in the short term. Investors often react to earnings forecasts, especially when they do not meet or exceed analyst estimates, leading to potential decreases in stock price.
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