Why Exela Technologies Shares Are Getting Hammered Today

Exela Technologies Inc XELA shares are trading lower by 17.72% at $0.30. The company Tuesday morning reported worse-than-expected first-quarter earnings results.

Exela Technologies reported quarterly losses of 17 cents per share which missed the analyst consensus estimate of a loss of 10 cents. The company reported quarterly sales of $279.40 million which missed the analyst consensus estimate of $284.91 million by 2%.

"We are executing our strategic plans by investing in our business. Our results show some positive signs and give us comfort that we are on the right path. Our cost of long-term debt is too high, and it is an important objective for us to lower it. We have much to do still, and remain committed to leveraging our foundation for our customers and our shareholders," said Par Chadha, Executive Chairman of Exela.

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Exela Technologies provides location-agnostic business process automation software and solutions.

According to data from Benzinga Pro, Exela Technologies has a 52-week high of $5.45 and a 52-week low of $0.28.