PennantPark Floating Rate Q4 Adj $0.32 Beats $0.31 Estimate, Sales $35.73M Beat $34.59M Estimate
Portfolio Pulse from Benzinga Newsdesk
PennantPark Floating Rate (NYSE:PFLT) reported Q4 adjusted earnings of $0.32 per share, surpassing the consensus estimate of $0.31, and representing a 6.67% increase from the previous year. Quarterly sales were $35.73M, exceeding estimates of $34.59M and marking a 24.14% increase from the same period last year.
November 15, 2023 | 9:30 pm
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POSITIVE IMPACT
PennantPark Floating Rate reported higher-than-expected Q4 earnings and sales, indicating a positive performance trend.
Beating earnings and sales estimates typically leads to positive investor sentiment and can result in a short-term stock price increase. The reported growth over the previous year further strengthens the case for a potential positive impact on PFLT's stock price.
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