First BanCorp Q1 2024 Adj EPS $0.44 Beats $0.37 Estimate, Sales $196.520M Miss $205.777M Estimate
Portfolio Pulse from Benzinga Newsdesk
First BanCorp (NYSE:FBP) reported Q1 2024 adjusted EPS of $0.44, surpassing the $0.37 estimate, marking an 18.92% beat and a 12.82% increase from the previous year. However, their sales of $196.520M fell short of the $205.777M estimate, a 4.50% miss and a 2.17% decrease from the previous year.
April 23, 2024 | 11:30 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
First BanCorp reported a higher-than-expected Q1 2024 adjusted EPS of $0.44, but sales missed estimates at $196.520M.
The positive earnings beat suggests operational efficiency and profitability, which could be favorable for investor sentiment. However, the sales miss indicates potential challenges in revenue growth, creating a mixed outlook. The net impact on the stock price could be neutral in the short term as investors weigh the positive earnings against the sales miss.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100