First Merchants Q4 2023 Adj GAAP EPS $0.87, Inline, Sales $156.51M Miss $165.48M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Merchants (NASDAQ:FRME) reported Q4 2023 adjusted GAAP EPS of $0.87, which was in line with analyst estimates but represented a 26.89% decrease from the same period last year. Sales for the quarter were $156.51M, falling short of the $165.48M estimate by 5.42% and marking a 9.59% decrease from the previous year's sales.
January 25, 2024 | 1:02 pm
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NEGATIVE IMPACT
First Merchants reported Q4 2023 earnings per share of $0.87, in line with estimates, but a significant decrease from the previous year. Sales missed estimates, indicating potential challenges.
The in-line EPS may not significantly impact the stock price, but the sales miss and year-over-year declines in both EPS and sales suggest potential underlying issues that could negatively affect investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100