First Busey Q1 2024 Adj EPS $0.47 Misses $0.49 Estimate, Sales $110.767M Beat $109.091M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Busey Corporation (NASDAQ:BUSE) reported Q1 2024 adjusted EPS of $0.47, missing the consensus estimate of $0.49 by 4.08%. Year-over-year, earnings decreased by 27.69% from $0.65 per share. Quarterly sales were $110.767M, exceeding estimates by 1.54% but showing a 5.89% decrease from the previous year's $117.705M.
April 23, 2024 | 9:33 pm
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NEGATIVE IMPACT
First Busey's Q1 2024 earnings missed estimates with a significant year-over-year decrease, though sales slightly exceeded expectations.
The miss on the EPS estimate and the significant decrease in earnings year-over-year are likely to negatively impact investor sentiment towards BUSE in the short term. However, the slight beat on sales estimates may provide some offsetting positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100