Citizens Financial Group Q4 EPS $0.85 Beats $0.71 Estimate, Sales $1.99B Miss $2.00B Estimate
Portfolio Pulse from Benzinga Newsdesk
Citizens Financial Group (CFG) reported Q4 earnings of $0.85 per share, surpassing the $0.71 estimate, a 19.72% beat. However, this represents a 35.61% decrease from the previous year's $1.32 per share. Sales reached $1.99B, narrowly missing the $2.00B estimate by 0.40%, and showing a 9.64% decrease from the prior year's $2.20B.
January 17, 2024 | 11:26 am
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NEUTRAL IMPACT
Citizens Financial Group exceeded Q4 EPS estimates but experienced a significant year-over-year decline in earnings and a slight miss in sales estimates.
While CFG beat EPS estimates, the year-over-year decline in earnings and the slight miss in sales may temper investor enthusiasm, leading to a neutral short-term impact. The earnings beat could be seen as a positive, but the decline in earnings and sales compared to last year might raise concerns about growth, thus balancing out potential stock movement.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100