WEX Cuts FY24 Revenue Forecast From $2.73B - $2.77B To $2.68B - $2.72B (Est $2.743B); Adjusted EPS From $16.10 -$16.60 To $15.98 - $16.38 (Est $16.25)
Portfolio Pulse from Benzinga Newsdesk
WEX has revised its FY24 revenue forecast from $2.73B - $2.77B to $2.68B - $2.72B, and its adjusted EPS from $16.10 - $16.60 to $15.98 - $16.38. The estimates were $2.743B for revenue and $16.25 for EPS.
July 25, 2024 | 10:50 am
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NEGATIVE IMPACT
WEX has lowered its FY24 revenue and adjusted EPS forecasts, which are now below previous estimates. This could negatively impact investor sentiment and the stock price in the short term.
The downward revision of both revenue and EPS forecasts indicates potential challenges in WEX's business performance. This is likely to lead to negative investor sentiment and a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100