Northfield Bancorp Q1 2024 GAAP EPS $0.15, Inline, Sales $27.884M Miss $28.990M Estimate
Portfolio Pulse from Benzinga Newsdesk
Northfield Bancorp (NASDAQ:NFBK) reported Q1 2024 earnings of $0.15 per share, meeting consensus estimates but marking a 42.31% decrease from the previous year. Sales of $27.884M missed estimates by 3.82% and fell 20.09% year-over-year.
April 25, 2024 | 6:36 am
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Northfield Bancorp's Q1 2024 earnings aligned with expectations, but a significant decrease in earnings and sales miss could pressure the stock.
Meeting earnings estimates typically stabilizes a stock, but a sharp decrease in earnings compared to the previous year combined with a miss on sales forecasts can lead to negative investor sentiment. This could result in short-term pressure on NFBK's stock price as investors adjust to the company's reduced profitability and missed revenue expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100