First Foundation Q1 2024 Adj EPS $0.02 Beats $0.01 Estimate, Sales $51.069M Miss $56.690M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Foundation (NYSE:FFWM) reported Q1 2024 adjusted EPS of $0.02, beating the $0.01 estimate, but missed sales estimates with $51.069M against the expected $56.690M. This represents a significant decrease in both earnings and sales from the same period last year.
April 25, 2024 | 11:17 am
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NEUTRAL IMPACT
First Foundation's Q1 2024 earnings surpassed expectations with an EPS of $0.02, but sales fell short at $51.069M, missing the $56.690M estimate. Year-over-year, earnings and sales have significantly decreased.
While FFWM beat EPS estimates, the miss on sales and the significant year-over-year decline in both earnings and sales could lead to mixed investor sentiment. The EPS beat might provide some positive momentum, but the sales miss and the comparison to last year's stronger performance could temper any potential gains. Thus, a neutral score reflects this balance of factors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100