Federated Hermes Q4 2023 GAAP EPS $0.96 Beats $0.83 Estimate, Sales $391.50M Miss $396.98M Estimate
Portfolio Pulse from Benzinga Newsdesk
Federated Hermes (NYSE:FHI) reported Q4 2023 earnings per share (EPS) of $0.96, surpassing the consensus estimate of $0.83 by 15.66%. However, their quarterly sales of $391.50 million fell short of the expected $396.98 million by 1.38%, despite being a 4.71% increase from the same period last year.

January 25, 2024 | 9:20 pm
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Federated Hermes reported higher-than-expected Q4 EPS at $0.96, beating estimates by 15.66%, but missed revenue estimates by 1.38% with $391.50M in sales.
The positive earnings surprise could lead to a short-term positive sentiment, as EPS is a key indicator of financial performance. However, the miss on revenue estimates may temper investor enthusiasm, leading to a neutral short-term impact on the stock price. The company's year-over-year sales growth could be seen as a positive sign of business growth, which might offset some of the negative impact from the revenue miss.
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