First Financial Bancor Q1 Adj $0.59, Inline, Sales $195.25M Miss $201.10M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Financial Bancor (NASDAQ:FFBC) reported Q1 adjusted earnings of $0.59 per share, meeting analyst estimates but marking a 22.37% decrease from last year. Quarterly sales were $195.25M, missing estimates by 2.91% and down 4.47% from the previous year.
April 25, 2024 | 8:49 pm
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First Financial Bancor reported Q1 earnings in line with estimates but saw a significant decrease from the previous year. Sales also missed estimates and were lower than last year's figures.
The reported earnings being in line with estimates typically would not significantly impact the stock price. However, the year-over-year decrease in both earnings and sales, along with missing sales estimates, could lead to negative investor sentiment in the short term. This is because investors often look for growth in both earnings and revenue as indicators of a company's financial health and future prospects.
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