First Merchants Q1 2024 Adj EPS $0.85 Beats $0.82 Estimate, Sales $153.701M Miss $162.700M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Merchants (NASDAQ:FRME) reported Q1 2024 adjusted EPS of $0.85, surpassing the $0.82 estimate, but sales of $153.701M fell short of the $162.700M forecast. This represents a 20.56% decrease in earnings and a 9.12% drop in sales from the same period last year.
April 25, 2024 | 12:32 pm
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First Merchants reported a mixed Q1 2024 with earnings beating estimates but sales missing expectations, indicating a decrease in both earnings and sales from the previous year.
The mixed results with an earnings beat but a miss on sales could lead to neutral market sentiment towards FRME in the short term. The decrease in earnings and sales from the previous year might concern investors, but the earnings beat could offset some negative perceptions.
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