First BanCorp Q3 Adj EPS $0.46 Beats $0.38 Estimate, Sales $199.73M Miss $204.81M Estimate
Portfolio Pulse from Benzinga Newsdesk
First BanCorp (NYSE:FBP) reported Q3 adjusted earnings of $0.46 per share, beating the analyst consensus estimate of $0.38 by 21.05%. However, the company's quarterly sales of $199.73 million missed the analyst consensus estimate of $204.81 million by 2.48%.
October 20, 2023 | 11:01 am
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NEUTRAL IMPACT
First BanCorp's Q3 earnings exceeded expectations but sales missed estimates. This mixed result could lead to uncertain market reactions.
First BanCorp's earnings beat could be seen as a positive sign of the company's profitability. However, the sales miss might raise concerns about the company's revenue generation capabilities. The mixed results could lead to a neutral or mixed market reaction in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100