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Technology Stocks : stamps.com (STMP)

STMP 329.61

0.0%

Oct 5 5:00 PM EST

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From: JakeStraw	5/9/2019 8:05:08 AM
	of 1197

Shares of Stamps.com cut nearly in half after company slashes earnings forecast Stamps.com announced it expects 2019 earnings to take a hit due to uncertain contract changes that its partner companies have with the United States Postal Service. "These are ongoing negotiations with uncertain outcomes and we have limited visibility," Stamps.com CFO Jeff Carberry told shareholders. Stamps.com issued a 2019 earnings guidance within a range of $3.35 a share to $4.85 a share, a 35% cut on the bottom end of the range from its previous guidance. cnbc.com "We have very recently become aware that the USPS is currently renegotiating the negotiated service agreements of several of our reseller partners," Stamps.com CFO Jeff Carberry told shareholders on the call. "While these are ongoing negotiations with uncertain outcomes and we have limited visibility given that the negotiations are being conducted between the USPS and our reseller integration partners, we believe it is reasonably possible that the margins associated and earned by the resellers as a result of these negotiations will begin to decrease around the second half of 2019."

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