First Foundation Q4 2023 Adj EPS $0.05 Beats $0.03 Estimate, Sales $56.37M Miss $62.82M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Foundation (NYSE:FFWM) reported Q4 2023 adjusted EPS of $0.05, surpassing the $0.03 estimate, but experienced a significant year-over-year decline with an 85.71% decrease from $0.35. Sales for the quarter were $56.37M, falling short of the $62.82M estimate and marking a 31.21% decrease from the previous year's $81.94M.
January 25, 2024 | 12:16 pm
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NEGATIVE IMPACT
First Foundation's Q4 2023 earnings beat EPS estimates but showed a significant decrease in earnings and sales compared to last year, indicating potential challenges ahead.
While FFWM beat EPS estimates, the substantial year-over-year decline in both earnings and sales is likely to concern investors, potentially leading to a negative short-term impact on the stock price. The earnings beat may provide some support, but the sales miss and significant declines suggest underlying challenges that could overshadow the positive EPS surprise.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100