Prudential Earlier Reported FY 2023 GAAP EPS $0.62 Misses $0.75 Estimate, Sales $9.371B Miss $27.360B Estimate
Portfolio Pulse from Benzinga Newsdesk
Prudential (NYSE:PUK) reported FY 2023 GAAP EPS of $0.62, missing the $0.75 estimate, and sales of $9.371B, missing the $27.360B estimate. This represents a 9.62% increase in sales over the same period last year.
March 20, 2024 | 2:12 pm
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NEGATIVE IMPACT
Prudential's FY 2023 earnings and sales missed estimates with a GAAP EPS of $0.62 against a $0.75 estimate and sales of $9.371B against a $27.360B estimate, despite a 9.62% increase in sales YoY.
Missing both earnings per share and sales estimates significantly, especially with such a large gap in expected sales, is likely to negatively impact investor confidence and could lead to a short-term decrease in stock price. The increase in sales YoY indicates some positive performance, but the miss on expectations overshadows this.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100