First Citizens BancShares Q4 Adj. EPS $46.58 Misses $47.98 Estimate, Sales $1.91B Miss $2.38B Estimate
Portfolio Pulse from Benzinga Newsdesk
First Citizens BancShares (NASDAQ:FCNCA) reported Q4 adjusted EPS of $46.58, missing the consensus estimate of $47.98 by 2.92%. Quarterly sales were $1.91B, falling short of the $2.38B estimate by 19.75%. Despite the miss, both earnings and sales saw significant increases from the same period last year, with earnings up 122.45% and sales up 138.15%.
January 26, 2024 | 11:38 am
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First Citizens BancShares reported a Q4 adjusted EPS of $46.58 and sales of $1.91B, missing estimates on both fronts. However, the company showed strong year-over-year growth in earnings and sales.
Missing both earnings and sales estimates is likely to have a negative short-term impact on FCNCA's stock price. However, the substantial year-over-year growth could mitigate some of the negative sentiment.
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IMPORTANCE 75
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