American Express CFO Christophe Le Caillec, speaking at the UBS Financial Services Conference, warned that first-quarter revenue growth is expected to be lower than the fourth quarter due to credit normalization, seasonal factors, the impact of the 2024 Leap Year, and FX headwinds. Despite these challenges, Le Caillec expressed confidence in meeting the company's full-year revenue guidance. The cautious outlook for Q1, following an exceptional December performance, has led to a decline in American Express's stock price. He also noted that most credit normalization has already occurred.