Flushing Financial Q4 Adj EPS $0.25 Beats $0.23 Estimate, Sales $53.49M Beat $48.12M Estimate
Portfolio Pulse from Benzinga Newsdesk
Flushing Financial (NASDAQ:FFIC) reported Q4 adjusted earnings of $0.25 per share, surpassing the consensus estimate of $0.23, and sales of $53.49M, exceeding the $48.12M estimate. However, this represents a 56.14% decrease in earnings per share compared to last year, despite a 14.90% increase in sales over the same period.
January 25, 2024 | 11:05 pm
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Flushing Financial reported higher-than-expected Q4 earnings and sales, but experienced a significant decrease in earnings per share year-over-year.
While Flushing Financial beat analyst estimates for both earnings and sales, the substantial year-over-year decrease in earnings per share may concern investors. The positive surprise in quarterly results could provide short-term support to the stock price, but the decline in profitability compared to the previous year could offset some of the positive sentiment. Therefore, the short-term impact on the stock price is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100