First of Long Island Q1 2024 GAAP EPS $0.20 Misses $0.23 Estimate, Sales $20.935M Miss $22.084M Estimate
Portfolio Pulse from Benzinga Newsdesk
First of Long Island (NASDAQ:FLIC) reported Q1 2024 earnings of $0.20 per share, missing the $0.23 estimate, and sales of $20.935M, below the $22.084M estimate. This represents a 31.03% decrease in earnings and a 7.56% decrease in sales from the same period last year.
April 25, 2024 | 9:24 pm
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NEGATIVE IMPACT
First of Long Island's Q1 2024 earnings and sales missed estimates, with a significant decrease compared to last year.
Missing both earnings and sales estimates, especially with a notable year-over-year decrease, typically exerts downward pressure on a stock's price in the short term. Investors may react negatively to the missed expectations and the significant decrease in performance compared to the previous year.
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