First Hawaiian Q1 2024 GAAP EPS $0.42 Beats $0.41 Estimate, Sales $205.798M Beat $203.733M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Hawaiian (NASDAQ:FHB) reported Q1 2024 earnings of $0.42 per share, surpassing the $0.41 estimate, and sales of $205.798M, exceeding the $203.733M estimate. However, this represents a 19.23% decrease in earnings and a 4.84% decrease in sales from the same period last year.
April 26, 2024 | 12:01 pm
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NEUTRAL IMPACT
First Hawaiian's Q1 2024 earnings and sales exceeded estimates but showed a year-over-year decline in both metrics.
While beating estimates typically has a positive short-term impact on a stock's price, the year-over-year declines in both earnings and sales could temper investor enthusiasm. The mixed results suggest a neutral short-term impact as the market digests both the positive beat and the underlying declines.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100