Citizens Financial Reports Mixed Q2 Performance
Portfolio Pulse from Shivani Kumaresan
Citizens Financial Group (NYSE:CFG) reported Q2 FY23 sales growth of 5% YoY to $2.09 billion, missing the analyst consensus of $2.10 billion. Adjusted net income was $531 million, down from $595 million last year. Adjusted EPS of $1.04 beat the analyst consensus of $1.01. The company declared a quarterly common stock dividend of $0.42 per share. CFG shares are trading lower by 0.38% at $29.00 premarket.
July 19, 2023 | 12:40 pm
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Citizens Financial Group reported mixed Q2 FY23 results with sales missing analyst consensus but adjusted EPS beating expectations. The company declared a quarterly dividend of $0.42 per share. CFG shares are trading lower premarket.
Citizens Financial Group's Q2 FY23 sales missed analyst consensus, which could negatively impact investor sentiment and lead to a decrease in the stock price. However, the company's adjusted EPS beat expectations, which could offset some of the negative impact. The declaration of a quarterly dividend could also be seen as a positive signal by investors. Despite these factors, CFG shares are trading lower premarket, indicating a negative short-term impact on the stock price.
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