Stamps.com (STMP) have revised their expectations, now forecasting EPS between $3.35 and $4.85 per share. The expected EPS is now much lower than the previous forecast, when the company said it expected their full-year adjusted EPS of $5.15 to $6.15. This revision has made Stamps’ shares to lose in price.
The stock went down 50.7% to $40.87 on Thursday alone. Of course, the revision was not the only catalyst. On top of the revision down Stamps.com said its key partnership with the U.S. Postal Service had ended. Adjusted earnings in the first quarter of 2019 for were $1.23 a share, which beat the forecasts of $1.11. Revenues also did good, as the report of $136 million topped expectations of $127.2 million, making the Q1 2019 quite an accomplishment for the company.