Corpay Sees Q2 2024 Adj. EPS $4.45-$4.55 Vs $4.76 Est.; Revenue $960M-$980M Vs $1.018B Est.
Portfolio Pulse from Benzinga Newsdesk
Corpay forecasts its Q2 2024 adjusted EPS to be between $4.45 and $4.55, below the estimated $4.76. Revenue is expected to be between $960M and $980M, also below the estimated $1.018B.
May 08, 2024 | 9:14 pm
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NEGATIVE IMPACT
Corpay's Q2 2024 earnings and revenue forecasts are below analysts' expectations, indicating potential short-term pressure on its stock price.
When a company forecasts earnings and revenue that are below analysts' expectations, it often leads to negative investor sentiment and can result in a decrease in the stock price in the short term. Corpay's announcement of lower-than-expected adjusted EPS and revenue for Q2 2024 suggests that investors may react negatively, putting downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100