CION Invt FY 2023 Net Inv Income Per Share $1.92 Misses $1.93 Estimate, Total Inv Income $251.010M Beat $249.338M Estimate
Portfolio Pulse from Benzinga Newsdesk
CION Investment Corporation (CION) reported FY 2023 net investment income per share of $1.92, slightly missing the estimate of $1.93. However, their total investment income of $251.010M exceeded expectations by beating the $249.338M estimate. This represents a significant increase from the previous year, with earnings up 23.08% and sales up 28.79%.
March 14, 2024 | 10:20 am
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NEUTRAL IMPACT
CION Investment Corporation reported a slight miss on FY 2023 EPS estimates but exceeded revenue expectations, showing strong year-over-year growth.
While CION's slight miss on the EPS estimate might concern some investors, the overall positive revenue beat and significant year-over-year growth in both earnings and sales are likely to mitigate any negative impact. The mixed results present a neutral short-term outlook for the stock, as the positive aspects of the report could balance out the slight earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100