First Merchants Q3 Adj EPS $0.94, Inline, Sales $161.22M Miss $167.07M Estimate
Portfolio Pulse from vinayak@benzinga.com
First Merchants (NASDAQ:FRME) reported Q3 earnings of $0.94 per share, in line with analyst consensus. However, the company's quarterly sales of $161.22M missed the estimate of $167.07M by 3.5%. This represents a 16.07% decrease in earnings and a 5.12% decrease in sales compared to the same period last year.
October 26, 2023 | 12:15 pm
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NEGATIVE IMPACT
First Merchants' Q3 earnings met expectations but sales missed estimates, indicating mixed performance.
First Merchants' earnings were in line with expectations, which is positive. However, the company missed sales estimates, which is a negative signal. The decrease in both earnings and sales compared to last year could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100