WEX Cuts FY24 Revenue Outlook From $2.68B - $2.72B To $2.62B - $2.63B (Est $2.689M); Adjusted EPS Outlook From $15.98 -$16.38 To $15.21 - $15.31 (Est $16.05)
Portfolio Pulse from Benzinga Newsdesk
WEX has revised its FY24 revenue outlook downwards from $2.68B-$2.72B to $2.62B-$2.63B, and its adjusted EPS outlook from $15.98-$16.38 to $15.21-$15.31. This is below the estimated $2.689B revenue and $16.05 EPS.
October 24, 2024 | 10:42 am
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NEGATIVE IMPACT
WEX has lowered its FY24 revenue and adjusted EPS outlook, both falling short of market estimates. This could indicate potential challenges in meeting financial targets.
The downward revision of both revenue and EPS outlooks suggests that WEX may face difficulties in achieving its financial goals. The new guidance is below market expectations, which could lead to negative sentiment among investors and a potential short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100