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
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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.
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