CareTrust REIT Q1 2024 FFO $0.35 Misses $0.36 Estimate, Sales $63.070M Beat $52.915M Estimate
Portfolio Pulse from Benzinga Newsdesk
CareTrust REIT reported Q1 2024 FFO of $0.35 per share, missing the consensus estimate of $0.36, but sales of $63.070M exceeded expectations of $52.915M, marking a 24.63% increase from the previous year.

May 02, 2024 | 8:13 pm
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NEUTRAL IMPACT
CareTrust REIT's Q1 2024 earnings missed EPS estimates but surpassed revenue forecasts, indicating mixed financial performance.
The slight miss in FFO per share might concern some investors, but the significant beat on revenue forecasts and year-over-year sales growth could offset concerns and signal underlying strength in the company's operations. The mixed results present a neutral short-term outlook as investors weigh the implications of earnings miss against strong revenue performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100