Citizens Financial Group Q1 Sales $1.959B Miss $1.96B Estimate
Portfolio Pulse from Benzinga Newsdesk
Citizens Financial Group (CFG) reported Q1 adjusted earnings of $0.79 per share, surpassing the consensus estimate of $0.74 by 6.76%. However, earnings decreased by 28.18% from $1.10 per share a year ago. Q1 sales were $1.959 billion, slightly missing the estimate of $1.96 billion by 0.05% and representing a 7.94% decrease from $2.13 billion in the same period last year.
April 17, 2024 | 10:24 am
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Citizens Financial Group reported higher than expected Q1 earnings but saw a decrease in earnings and sales YoY.
While CFG surpassed earnings estimates, the slight miss in sales forecasts and the year-over-year decline in both earnings and sales could lead to mixed investor sentiment. The positive earnings surprise may support the stock price, but the overall decline in financial performance could temper gains.
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