Fifth Third Bancorp Q4 Adj. EPS $0.99 Beats $0.85 Estimate, Sales $2.17B Beat $2.16B Estimate
Portfolio Pulse from Benzinga Newsdesk
Fifth Third Bancorp (NASDAQ:FITB) reported Q4 earnings per share of $0.72, missing the consensus estimate of $0.85 by 15.29%. Year-over-year, this represents a 28.71% decrease from $1.01 per share. However, the company's quarterly sales of $2.17B slightly exceeded the estimate of $2.16B by 0.32%, despite being a 6.47% decrease from the previous year's $2.32B.
January 19, 2024 | 11:33 am
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Fifth Third Bancorp's Q4 EPS of $0.72 missed estimates by 15.29% and showed a significant decrease from the previous year, while sales slightly beat estimates but also decreased from the previous year.
The missed EPS estimate and the significant decrease in earnings compared to the previous year are likely to negatively impact investor sentiment and the stock price in the short term. The slight beat in sales may not be sufficient to offset the negative impact of the earnings miss.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100